TeraWulf subsidiary prices $3.2 billion offering of senior notes

NEW YORK - TeraWulf Inc.’s (NASDAQ:WULF), currently valued at $5.68 billion and showing impressive revenue growth of nearly 20% in the last twelve months, has announced that its wholly-owned subsidiary, WULF Compute LLC, has priced a $3.2 billion offering of 7.750% senior secured notes due 2030, the company announced Thursday.

The notes will be sold in a private offering to qualified institutional buyers under Rule 144A of the Securities Act of 1933. The transaction is expected to close on October 23, 2025, subject to market and other conditions.

WULF Compute plans to use the net proceeds to finance a portion of its data center expansion at the Lake Mariner campus in Barker, New York. The notes will be fully guaranteed by WULF Compute’s subsidiaries and secured by first-priority liens on substantially all assets of WULF Compute and the guarantors.

Additional security includes equity interests of WULF Compute held by TeraWulf Brookings LLC, a designated lockbox account of Fluidstack USA I Inc., and a pledge by Google LLC of warrants to purchase TeraWulf common stock prior to the completion of the data center expansion.

TeraWulf will provide completion guarantees for the data center expansion, committing to fund WULF Compute as necessary to ensure timely completion of the project.

Morgan Stanley is acting as the sole bookrunner for the notes offering.

TeraWulf develops and operates environmentally sustainable, industrial-scale data center infrastructure in the United States for high-performance computing and other high-density compute applications. The company maintains a healthy gross profit margin of 43.8%, though InvestingPro analysis indicates the stock is currently trading above its Fair Value. For deeper insights, investors can access 16+ additional ProTips and comprehensive financial metrics through InvestingPro’s detailed research reports.

The information in this article is based on a company press release statement. The notes have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. For comprehensive analysis of TeraWulf’s financials and future prospects, including exclusive Fair Value estimates and expert insights, visit InvestingPro, where you’ll find detailed research reports covering 1,400+ top US stocks.

In other recent news, TeraWulf Inc.’s subsidiary, WULF Compute LLC, announced plans to offer $3.2 billion in senior secured notes due 2030. The proceeds from this offering are intended to fund the expansion of the company’s data center at the Lake Mariner campus in Barker, New York. In a separate development, TeraWulf shareholders approved an amendment to increase the company’s authorized common stock from 600 million to 950 million shares. This decision was made during a special shareholder meeting, with a significant majority voting in favor. Furthermore, Rosenblatt raised its price target for TeraWulf to $14.50 from $12, maintaining a Buy rating. This adjustment reflects the firm’s belief in growing demand for high-performance computing driven by artificial intelligence, benefiting Bitcoin miners like TeraWulf. These developments come amid broader market fluctuations, as Bitcoin-linked stocks experienced declines due to rising US-China trade tensions.

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