Crypto Miner TeraWulf to Raise $3B in Google-Backed Debt Deal to Expand Data Centers
Crypto mining firm TeraWulf (WULF) is planning to raise $3 billion in debt to expand its data center operations in a deal supported by Google, as the AI infrastructure arms race intensifies.
The company, Bloomberg reports citing TeraWulf CEO Patrick Fleury, is working with Morgan Stanley to arrange the funding, which could launch as early as next month through high-yield bonds or leveraged loans.
Credit rating agencies are evaluating the deal, and Google’s support may help it secure a stronger credit rating than would be typical for the firm.
The AI industry’s hunger for data center space, chips, and electricity has attracted crypto miners unlikely partners, which already control power-intensive infrastructure that can be repurposed…
