TeraWulf to Raise $3.2 Billion for AI Data Center Expansion

2025-10-14 20:31

TeraWulf is set to raise $3.2 billion through convertible bonds maturing in 2030, marking a significant financing move for the Bitcoin mining sector. The funds will be allocated to transform its Lake Mariner site into a dual-purpose facility for Bitcoin mining and AI hosting. This initiative is supported by a subsidiary guarantee and Google warrants. The expansion underscores TeraWulf's strategic pivot towards digital infrastructure, capitalizing on its partnership with Fluidstack, a Google-backed company, to accommodate GPU workloads at its New York data center. This development reflects the growing integration of AI capabilities within the cryptocurrency mining industry.

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