Forget MARA And RIOT — TeraWulf’s $500M Raise Fuels Breakout Toward $20
TeraWulf Inc. (NASDAQ:WULF) extended its 2025 financing streak after announcing a $500 million private offering of convertible senior notes due 2032, deepening its expansion into AI-driven data-center infrastructure as shares consolidate near recent highs.
Google-Backed Shift Expands TeraWulf’s Reach
The miner said proceeds from the offering will fund its Abernathy, Texas campus and support general corporate purposes, including high-performance computing (HPC) buildouts.
The move follows the firm’s $9.5 billion joint venture with Google-backed Fluidstack earlier in October and a $3 billion debt-financing plan disclosed in September.
The Abernathy facility represents one of TeraWulf’s largest U.S. expansions, complementing its low-carbon mining operations in New York and Pennsylvania.
Shares slipped about 5% after the latest financing announcement, according to The Block.
Corporate Expansion Outpaces Rivals
TeraWulf’s partnership with Fluidstack aims to deliver next-generation AI compute capacity, transforming the company …
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