TeraWulf Plans $900 Million Share Sale, Stock Slides 6%

Source

JOON HYOUNG LEE

Summary

TeraWulf said it plans a $900 million equity offering by issuing 47.4 million common shares at $19 a share.
The proceeds will be used to build a data center in Hawesville, Kentucky, repay bridge financing, and fund future expansion.
On the news, TeraWulf shares fell as much as 5.8%%, though they are still up more than 50%% since late last month.

Forecast Trend Report by Period

U.S. Bitcoin miner TeraWulf plans a $900 million equity offering.

CoinDesk reported on May 15 that the company will issue 47.4 million common shares at $19 each to raise a total of $900 million.

The proceeds will be used for a data center TeraWulf is building in Hawesville, Kentucky. The funds will also be used to repay bridge financing and support future expansion.

TeraWulf shares fell as much as 5.8% on the day, trading around $19.70 at one point after the announcement.

The company also released preliminary first-quarter results on May 15, projecting revenue of $30 million to $35 million. TeraWulf said high-performance computing, or HPC, hosting accounted for more than half of total revenue. CoinDesk said the shift reflects a broader industry trend as Bitcoin miners pivot to AI and HPC infrastructure to improve profitability.

TeraWulf shares had recently rallied as AI infrastructure plays drew investor attention. According to CoinDesk, the stock had surged more than 50% since late last month.

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