TeraWulf Dips 5% on $500M Capital Raise to Fund AI Data Center Expansion

TeraWulf (WULF) is planning to raise up to $575 million through a private sale of convertible senior notes, as it continues shifting focus from bitcoin mining to powering artificial intelligence infrastructure. The company Wednesday announced it plans to sell $500 million in convertible senior notes due 2032, with an option for buyers to tack on an additional $75 million. The offering is limited to qualified institutional investors. Shares are lower by 5% in premarket trading, following yesterday's 17% s ...