TeraWulf plans to seek $3 billion in debt financing for data center construction

BlockBeats News, September 27, according to Bloomberg, Bitcoin mining company TeraWulf (NASDAQ: WULF) is expected to raise approximately 3 billions USD to support the construction of its data centers. Morgan Stanley is arranging this potential deal for TeraWulf, which could launch as early as October. The financing may be completed through the high-yield bond or leveraged loan market.

Google is expected to provide backstop support for the deal, which could result in a higher rating for the debt. Rating agencies will determine the credit rating for this transaction within the BB to CCC range.