According to BlockBeats news on August 19, U.S. listed Bitcoin mining company TeraWulf (stock code: WULF) announced plans to raise $400 million through a private placement of convertible senior bonds. This financing comes as its AI cloud service client Fluidstack decides to add a lease of 160 megawatts of power capacity at the Lake Mariner Park in New York.
According to a statement released on Monday, this convertible bond includes a $60 million over-allotment option granted to the initial buyers, with the funds raised intended for options trading and expanding non-mining data center operations. The bond is an unsecured senior bond, paying interest semi-annually starting March 1, 2026, and maturing on September 1, 2031. Upon shareholder approval, TeraWulf may choose to settle the conversion in cash, stock, or a combination of both. This financing marks TeraWulf's acceleration into the high-performance computing sector beyond Bitcoin mining.
At the beginning of this month, the company signed two 10-year hosting agreements with AI high-performance computing service provider Fluidstack, with Google providing $1.8 billion in leasing guarantees and acquiring 8% of TeraWulf's shares.
