Bitcoin miner TeraWulf to raise $3B for Google-backed data center: Report
TeraWulf is reportedly planning $3 billion in funding through Morgan Stanley with Google’s backstop as the mining firm pivots to AI.
Crypto mining company TeraWulf is reportedly raising approximately $3 billion through Morgan Stanley to build data centers, with tech giant Google providing support.
The TeraWulf funding round will support the build-out of its data centers with a structure supported by Google, according to company finance chief Patrick Fleury, who spoke to Bloomberg on Thursday.
Deal could launch as soon as October in high-yield bond or leveraged loan markets. Google’s backstop commitment to support the debt financing is an additional $1.4 billion, bringing its total to $3.2 billion.