TeraWulf Seeks $3.5bn in Funding for Construction of Data Center for Anthropic
Morgan Stanley is expected to lead a financing that could include leveraged loans and high-yield bonds as TeraWulf expands into AI hosting.
- TeraWulf is preparing to raise about $3.5 billion in debt to fund a purpose-built AI infrastructure campus in Hawesville, Kentucky, supporting about 401 megawatts of critical computing load leased by Anthropic.
- The financing follows a 20-year lease agreement with Anthropic that TeraWulf estimates will generate approximately $19 billion in contracted revenue, marking the company's pivot from Bitcoin-focused operations.
- Morgan Stanley is expected to lead the transaction, which may combine leveraged loans and high-yield bonds; TeraWulf Chief Financial Officer Patrick Fleury said the company could enter the leveraged loan market for the first time.
- Earlier this week, TeraWulf sold its 50.1 percent ownership of the "Abernathy Joint Venture" with Fluidstack, enabling the company to "realize the value" of its $450m investment to redeploy capital elsewhere.
- With no final terms announced, the raise remains subject to market conditions; initial capacity is expected to begin operating in the second half of 2027, with full deployment targeted for early 2028.
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TeraWulf Targets $3.5B Debt For Kentucky AI Campus - Invest In Crypto News
US-listed Bitcoin mining company TeraWulf is reportedly seeking to raise $3.5 billion in debt to expand its Justified Data campus in Kentucky, a facility leased by artificial intelligence company Anthropic under a long-term agreement. The deal is expected to launch this year, with investment bank Morgan Stanley leading the financing effort, TeraWulf chief financial officer Patrick Fleury said, according to a Thursday Bloomberg report. The deal c…
TeraWulf Seeks $3.5B For Anthropic Data Center Expansion
TeraWulf is reportedly seeking $3.5 billion in debt financing to expand its Justified Data campus in Kentucky, which is leased to AI company Anthropic. The move highlights how Bitcoin miners are transitioning toward artificial intelligence and high-performance computing infrastructure through long-term contracts.
TeraWulf Seeks $3.5B in Debt to Expand Its Kentucky AI Data Center
TeraWulf seeks $3.5B in debt, led by Morgan Stanley, to expand its AI data center. The expansion follows a 20-year lease projected to generate $19B by 2028. This financing would underscore growing institutional confidence in hosting AI data centers. Bitcoin miner TeraWulf Inc. (NASDAQ: WULF) is pursuing $3.5 billion in debt financing led by Morgan Stanley to expand its Anthropic-leased artificial intelligence (AI) data center campus in Kentuck…
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