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

ChainCatcher news, according to Bloomberg, bitcoin mining company TeraWulf (NASDAQ: WULF) is expected to raise about 3 billion 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 in the BB to CCC range.