TeraWulf Plans $500M Convertible Notes Following Fluidstack Expansion
TeraWulf Expands AI Infrastructure With $9.5 Billion Fluidstack Joint Venture Backed by Google
Annual interest burden of nearly $250 million underscores financial risk behind expansion
From ASIC-backed loans to AI-backed convertibles, Bitcoin miners are once again tapping billions in debt — reshaping the industry’s capital structure.
Largest single debt raise by a public Bitcoin miner backed by Google’s AI colocation partner Fluidstack
Upsized deal priced with 1% coupon and 32.5% conversion premium
New 160 MW build at Lake Mariner pairs with $400M convertible bonds raise
Bitcoin mining stocks common $35 billion in market cap as of Friday
These companies collectively account for nearly 35% of global production
Realized hashrate dropped to 5.98 EH/s in November
WULF price rallied 30% since Friday ahead of share-repurchase announcement
Despite low profits and high difficulty, some pubcos are doubling down on mining