Crypto Miner Terawulf to raise $ 3B to Google Backed Debt Deal to expand data centers
Crypto mining firm Terawulf (WULF) is planning to raise $ 3 billion debt to expand its data center operations with a Deal supported by Google, as the AI infrastructure arms breed intensified.
The company, The Bloomberg report Mention with Terawulf CEO Patrick Fleury, is working with Morgan Stanley to fix the fund, which can be launched early next month through high -yield bonds or loans.
Credit rating agencies review the deal, and Google support can help to secure it with a stronger credit rating than it would be common for the firm.
The hunger of the AI industry for data center space, chips, and electricity attracts crypto miners who are unlikely partners, who have controlled infrastructure with power that can be repurposed for AI workloads.
Google, which has recently increased the Backstop for Terawulf at $ 3.2 billionNow holding a 14% stake in the company. That support helped the AI cloud platform FluidsTack has expanded its use of a Terawulf-run data center in New York in August.
Other crypto-native companies follow the suit. Cipher mining hits a Similar Google Agreement and FluidsTack this week. Google will also backstop $ 1.4 billion in the obligations tied to that deal and get an equity stake in the cipher.
Terawulf shares dropped around 1.3% in Friday’s trading session and did not change the time trade after time.
