TeraWulf Plans to Raise $350 mln Through Convertible Notes for Stock Buyback

TeraWulf has announced its intention to raise $350 mln by issuing convertible senior notes due 2030. The purpose of the fundraising is to finance a $200 mln share repurchase program, indicating the management’s confidence in the company’s future.

According to the statement, TeraWulf will offer an additional $75 mln if purchasers exercise the option within 13 days of the notes’ issuance. Convertible notes allow investors to convert them into company shares, potentially increasing their returns.

As a leading Bitcoin mining company, TeraWulf aims to strengthen its market position and attract new investors through strategic financial decisions.