TechFlow news, October 24 — According to TheMinerMag, Bitcoin mining company Terawulf announced plans to raise $350 million through a private placement of convertible notes, aiming to repurchase company shares. The company stated that the share buyback could amount to up to $200 million and is expected to be completed by December 2025.
Terawulf has also granted initial purchasers an option to increase the offering by an additional $75 million within 13 days after issuance. The company noted that the convertible notes will mature in 2030, although specific pricing and interest rates have not yet been determined.
In addition to the stock repurchase program, Terawulf said it intends to use the proceeds for general corporate purposes. In a separate statement, the company emphasized that prior to any share repurchases, it will prioritize "disciplined capital expenditures supporting organic growth in the HPC/AI space and evaluating potential strategic opportunities, such as possible site acquisitions."
