TeraWulf Raises $500 Million to Fuel AI Expansion

Crypto mining company TeraWulf has announced a strategic financing plan, securing $500 million in convertible notes to support the construction of a new data center campus in Abernathy, Texas. The private offering targets institutional investors and grants underwriters an option to buy additional notes totaling $75 million within 13 days. Proceeds will be allocated towards the Texas project and general corporate purposes.