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Bitcoin Miner TeraWulf Targets $3 Billion To Power Google-Tied Project

TeraWulf, the Bitcoin miner that has been shifting into knowledge middle companies, is lining up about $3 billion in debt financing to bankroll a big build-out of services — and Google is carefully tied to the deal, in line with stories.

Company officers have named Morgan Stanley because the lead arranger, and the package deal could possibly be bought as high-yield bonds or leveraged loans. The deliberate timing is as quickly as October, although phrases should change.

Planned $3 Billion Package Backed By Google

According to Bloomberg and different shops, the financing is structured to incorporate help from Google, which is reported to have dedicated a $1.4 billion backstop tied to the transaction.

Other reports say Google’s complete help throughout associated preparations might attain about $3.2 billion. TeraWulf has additionally been linked to Fluidstack, an organization with a 10-year colocation deal that’s stated to be value roughly $3.7 billion in income over the contract time period.

TeraWulf’s Strategy Shift And The Market Reaction

TeraWulf desires to maneuver past pure Bitcoin mining through the use of its energy and website belongings to host third-party compute, together with AI workloads. That change issues as a result of it alters the corporate’s income combine and the sorts of consumers it courts.

Market watchers level to related strikes by different miners, together with Cipher Mining, the place large tech ties have helped land massive internet hosting offers. Still, constructing and working massive knowledge facilities takes time, regular energy, and cautious value management.

Balance Sheet And Credit Questions

Investors are watching TeraWulf’s present funds. Some sources cite a debt-to-equity ratio close to 2.96 and damaging curiosity protection, which helps clarify why the corporate is popping to the high-yield or mortgage markets.

TeraWulf Stock Up

Meanwhile, TeraWulf’s inventory has been extremely risky, with a pointy 10% spike on Thursday to $11.72 earlier than slipping to shut down 3.5% at $10.95 in after-hours buying and selling, in line with Google Finance. The intraday swing displays how shortly merchants are reacting to recent headlines across the firm.

The inventory had already seen an enormous enhance in August, when the announcement of Google’s backing and a multibillion-dollar internet hosting deal despatched shares hovering 80% inside days. Since the beginning of 2025, WULF has gained over 90%, making it one of many stronger performers amongst crypto-linked infrastructure companies.

Analysts see the strikes as a mixture of optimism and warning. The Google connection and AI knowledge middle pivot have fueled bullish sentiment, however debt dangers and execution challenges hold traders fast to lock in income. The result’s a inventory that reacts strongly to information and stays speculative regardless of its large year-to-date positive factors.

Featured picture from Citybiz, chart from TradingView

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