Crypto Miner TeraWulf to Raise $3B in Google-Backed Debt Deal to Expand Data Centers

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Finance

What to know:

  • TeraWulf plans to raise $3 billion in debt to expand its data centers, backed by Google. Because who wouldn’t want more data centers, right?
  • The funding will help TeraWulf tap into the AI industry’s growing demand for data centers, which is kind of like feeding the beast that never stops eating.
  • Google already owns 14% of TeraWulf and is supporting other crypto firms, such as Cipher Mining, in their AI expansions. Who knew Google was so into crypto mining? It’s like a techy treasure hunt!

So here’s the scoop: Crypto mining firm TeraWulf (WULF) is aiming to raise a whopping $3 billion in debt to expand its data center operations. And guess who’s helping? Oh, just a little company called Google, you know, the ones who own pretty much everything, including 14% of TeraWulf. Because why wouldn’t Google throw its money at a company mining crypto and sucking up all the electricity in sight? 😅

According to the ever-so-reliable Bloomberg (which, by the way, has the inside track on basically everything), TeraWulf is working with Morgan Stanley to arrange this financing, which could be live as early as next month. It’s going to be one of those high-yield bonds or leveraged loans that just makes you wonder where the money’s going… probably into a giant pool of electricity and data center servers. 🤑

And get this: credit rating agencies are *evaluating* the deal. But don’t worry, with Google’s weighty endorsement, TeraWulf might get a credit rating so shiny, even your grandmother would be impressed. 🤔

Now, let’s talk about this weird new alliance: AI industries and crypto miners are joining forces in a way that would make even the most seasoned business guru scratch their head. Both industries are power-hungry, so why not join forces, right? Google’s been busy helping TeraWulf raise its backstop to a mind-boggling $3.2 billion. That’s probably enough to power a small country… or at least a really big data center. 😜

In August, this partnership even helped Fluidstack (whatever that is) expand its use of a TeraWulf-run data center in New York. It’s like one of those multi-million dollar playgrounds, except for AI and crypto mining. 🚀

And don’t think the crypto community is sitting idly by. Cipher Mining also made a deal with Google and Fluidstack this week. Google is backing a cool $1.4 billion in obligations tied to that deal. That’s some serious cash, people. 💸

But, alas, TeraWulf’s stock took a little dive-down 1.3% during Friday’s trading session. But hey, at least it didn’t crash and burn completely. 🙃

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2025-09-27 19:49