Terawulf Proposes $350 Million Convertible Notes Offering

According to Odaily, Bitcoin mining company Terawulf has proposed raising $350 million through a private offering of convertible notes. The company will also grant initial purchasers an option to buy an additional $75 million in notes within 13 days of issuance. While the pricing and interest rate of the offering have not been finalized, the notes are set to mature in 2030. Terawulf plans to use the proceeds from this offering for general corporate purposes. Additionally, the company intends to repurchase up to $200 million of its outstanding common stock by December 2025. This move is part of a broader strategy to manage its capital structure and enhance shareholder value. In a separate announcement on Wednesday, Terawulf stated that it will prioritize the stock repurchase plan following significant capital expenditures aimed at supporting organic growth in high-performance computing (HPC) and artificial intelligence (AI). The company is also evaluating potential strategic opportunities, including site acquisitions, to further its growth objectives.