Bitcoin mining company TeraWulf announced it is expanding its private placement to $900 million and finalizing the terms. The offering consists of 0% convertible senior notes due in 2032, with an over-allotment option of $125 million. This offering is an extension of the company's previously disclosed $500 million funding plan, with initial purchasers having a 13-day option to subscribe for additional notes. The company stated that the zero-coupon notes have a conversion premium of 37.5%, which translates to an initial conversion price of approximately $19.94 per share based on Wednesday's closing price of $14.50. If the over-allotment option is fully exercised, the total funding will reach approximately $999.7 million, which will be used for the construction of a data center campus in Abernathy, Texas, and other corporate purposes. (THE BLOCK)