Bitcoin mining company Terawulf plans to issue $350 million in convertible notes to repurchase up to $200 million of outstanding shares

BlockBeats news, on October 24, Bitcoin mining company Terawulf proposed to raise $350 million through a private offering of convertible notes, and will also grant the initial purchasers of the notes an option to add $75 million within 13 days of its issuance.

The company has not yet finalized the pricing and interest rate of the issuance, but said the notes will expire in 2030. Terawulf intends to use the proceeds from the offering for general corporate purposes and to repurchase its outstanding common stock by December 2025 for up to $200 million.

In another announcement on Wednesday, Terawulf said it would prioritize the stock repurchase plan after "rigorous capital expenditures designed to support organic growth in HPC/AI, and evaluating strategic opportunities such as potential site acquisitions." (TheMinerMag)