Bitcoin mining company TeraWulf plans to raise $3.5 billion to build a data center leased by Anthropic

TechFlow News, July 10: According to Bloomberg, Bitcoin mining company TeraWulf plans to raise approximately $3.5 billion in a financing led by Morgan Stanley to expand its Justified Data center campus located in Horseville, Kentucky.

The financing will include leveraged loans and high-yield bonds, marking TeraWulf's first entry into the leveraged loan market, and is planned to launch within this year. TeraWulf has previously signed a 20-year lease with Anthropic, with expected contract revenue during the initial lease term reaching approximately $19 billion, plus two five-year renewal options. The data center is expected to begin preliminary operations in the second half of 2027 and complete full construction in early 2028.