TeraWulf Announces $3.2B Note Offering To Fund Data Center Buildout

TeraWulf Inc.(WULF) on Tuesday announced plans to raise $3.2 billion through a private offering of senior secured notes due in 2030. 

The offering will be conducted through the company’s wholly owned subsidiary, WULF Compute LLC, and is intended for institutional investors under Rule 144A of the Securities Act.

A portion of the funds will support TeraWulf’s efforts to expand its digital infrastructure footprint, specifically targeting the development of its Lake Mariner campus in Barker, New York. 

TeraWulf stock traded over 7% higher on Tuesday morning. On Stocktwits, retail sentiment around the stock remained in ‘extremely bullish’ territory amid ‘extremely high’ message volume levels. 

In August, TeraWulf secured two long-term agreements with Fluidstac, a cloud platform that builds and operates HPC (high-performance computing) clusters for global enterprises. Under the 10-year contracts, TeraWulf will deliver over 200 megawatts (MW) of high-density IT power at its Lake Mariner campus in Western New York. 

Lucid Capital analyst Joe Flynn has initiated coverage on TeraWulf stock with a ‘Buy’ rating and a $25 price target, according to TheFly. 

Flynn said recent capital inflows, estimated at $1 trillion, are still being overlooked by the market. That influx, he noted, has led to tightening access to electrical power and grid capacity, offering a strategic edge to firms with the ability to scale quickly and tap into available megawatts. In the analyst’s view, TeraWulf is among those firms that stand to benefit most from the shifting market dynamics.

TeraWulf stock has gained 168% year-to-date and over 237% in the last 12 months. 

Also See: Why Is Cyngn Stock Surging 22% Pre-Market Today?

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