Bitcoin miner TeraWulf expands private offering to $900 million
2025-10-30 11:14:46
Bitcoin miner TeraWulf announced the expansion of its private offering to $900 million and the terms of the offering. The offering is a 0% convertible senior note with an over-allotment of $125 million and an expiration date of 2032. The offering is an extension of the company's previously disclosed $500 million financing plan, and initial purchasers can exercise additional subscription rights within 13 days. The zero-coupon notes have a conversion premium of 37.5%, the company said, and at Wednesday's closing price of $14.50, the initial conversion price is about $19.94 per share. If the over-allotment option is exercised in full, the total financing will reach approximately $999.70 million, and the funds will be used for the construction of the data center campus in Abernathy, Texas and other corporate purposes.
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