TeraWulf, a U.S.-based cryptocy mining firm focused on building large-scale digital infrastructure, is gearing up to raise about $3 billion through Morgan Stanley to expand its data centers, a plan backed by Google, according to its finance chief Patrick Fleury. The Terawulf data center expansion plan includes a $1.4 billion backstop from Google, which would bring the total potential funding to about $3.2 billion, Fleury told Bloomberg.
The company is considering launching the fundraising as early as October through high-yield bonds or leveraged loans, and Google’s involvement could help improve the deal’s credit rating. According to Bloomberg, the deal is still being negotiated and hasn’t been finalized. The initiative is fueled by the rising demand for data centers, advanced chips, and stable power sources to power AI development.
NFT platform Candy Digital has announced plans to migrate its digital collectibles ecosystem to the Solana blockchain, signaling…
The U.S. military has confirmed it is actively running a Bitcoin node as part of national security research, while…
The Web3 gaming sector is facing a harsh reality check as new data reveals that more…
Justin Sun, founder of TRON, has filed a federal lawsuit against World Liberty Financial, a crypto venture…
Tether has frozen approximately $344 million in USDT on the Tron blockchain after the wallets were flagged by U.S. authorities, marking…
Prediction market platform Kalshi has fined and suspended three U.S. congressional candidates after determining they engaged in “political…