Mentioned:
The race for data centre infrastructure is well underway in both the private and public markets. Which is exactly why TeraWulf has just raised a billion dollars in a new financing round.
What’s happening:
- TeraWulf (NASDAQ: WULF) has successfully raised $1B USD through a convertible senior note debt financing round
By the numbers:
- The convertible senior notes issued by TeraWulf in the financing round pay a 1.00% annual interest rate
- The convertible senior notes also have a capped conversion price of $18.76 USD per share
Why it matters:
- This is the single largest financing round TeraWulf has ever done since becoming a publicly traded company
Going deeper:
- TeraWulf has publicly stated they plan to use the new growth capital to continue to build out new data centres and physical infrastructure for high performance computing
- TeraWulf also just recently made waves on Wall Street with two new deals with United Kingdom based cloud computing company Fluidstack for $3.7B USD in total revenue, which was notably backstopped by Google (NASDAQ: GOOG)
