TeraWulf Secures Google-Backed $3B for Data Center Shift

TeraWulf Secures Google-Backed $3B for Data Center Shift

TeraWulf, a prominent entity in the Bitcoin mining sector, is embarking on a significant strategic transformation, pivoting towards comprehensive data center services. This ambitious shift is being propelled by an approximately $3 billion debt financing package, crucial for funding a substantial build-out of new facilities. Notably, this venture is intricately linked with Google, underscoring a high-profile partnership that could redefine TeraWulf's market standing and operational scope. Reports indicate that Morgan Stanley has been appointed as the lead arranger for this considerable financing endeavor. The financial package is structured with the flexibility to be offered as either high-yield bonds or leveraged loans, targeting a diverse pool of investors. While the anticipated timeline for this offering is as early as October, it is important to acknowledge that the specific terms and conditions are still subject to potential modifications as the deal progresses through its fina…