TechFlow news, October 16 — According to GLOBE NEWSWIRE, cryptocurrency mining company TeraWulf Inc. (Nasdaq: WULF) announced that its wholly-owned subsidiary, WULF Compute LLC, has priced the offering of $3.2 billion in senior secured notes. The notes carry an annual interest rate of 7.750%, will mature in 2030, and are issued at par value.
The offering is expected to close on October 23. Proceeds will be used to partially fund the expansion of the Lake Mariner campus data center located in Barker, New York. The notes will be fully and unconditionally guaranteed by subsidiaries of WULF Compute and secured by first-priority liens on substantially all of the company's assets.
Previous report, mining firm TeraWulf plans to raise approximately $3 billion for data center development.
