TeraWulf to Secure $3 Billion in Debt with Google’s Support
- TeraWulf (WULF) plans to raise $3 billion in debt to expand its data center operations.
- The funding deal is being arranged with Morgan Stanley and could launch next month.
- Google has increased its backstop for TeraWulf to $3.2 billion and holds a 14% equity stake in the company.
- Credit rating agencies are evaluating the deal, which may receive a stronger credit rating due to Google’s involvement.
- Other firms, such as Cipher Mining, have also secured agreements with Google for similar funding structures.
The partnership between crypto miners and tech giants like Google highlights the growing demand for data center resources amid an AI infrastructure boom. This collaboration enables companies like TeraWulf to leverage existing power-intensive facilities for dual purposes.
TeraWulf’s shares fell approximately 1.3% during trading, reflecting market reactions amidst these developments.(Source)
