TeraWulf Inc.’s (WULF) subsidiary WULF Compute has priced a $3.2 billion private placement of 7.75% senior secured notes due 2030. The offering is expected to close on October 23, 2025, subject to customary market and other conditions.
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WULF Compute will use the proceeds to fund part of its planned data center expansion at the Lake Mariner campus in Barker, New York, supporting additional high-density computing capacity for HPC and AI workloads. TeraWulf will provide customary completion guarantees for the expansion and will fund WULF Compute as needed to ensure timely delivery of the new data center facilities.
The notes will be fully and unconditionally guaranteed by WULF Compute’s subsidiaries: La Lupa Data LLC, Akela Data Holdings LLC and Akela Data LLC. They are also secured by first-priority liens on all of WULF Compute’s and the guarantors’ assets.
In August, TeraWulf upsized a convertible notes offering to $850 million shortly after signing a 10 year lease agreement with Fluidstack and Google.
Read More: Rosenblatt raises TeraWulf price target to $14.50, cites undervalued HPC pipeline
At time of publication, WULF is down 3.3% from yesterday’s close.
