TeraWulf Plans to Raise $900 Million to Expand AI Data Center

On April 15, TeraWulf announced the issuance of 47.4 million shares at $19 per share, raising approximately $900 million to build a large data center campus in Hawesville, Kentucky, repay bridge financing, and support subsequent expansion. TeraWulf's management noted that revenue from high-performance computing (HPC) hosting has exceeded half of the total revenue, surpassing the bitcoin mining business for the first time, driving the company's revenue structure towards a more stable long-term cash flow.