TeraWulf Closes $1.03B Public Offering of 54.5M Shares

TeraWulf Inc. announced the closing of its public offering of 54,510,000 shares of common stock at $19.00 per share, including the full exercise of the underwriters' option. The offering generated approximately $1.03 billion in gross proceeds. The company intends to use the net proceeds to fund a portion of the construction costs for its planned data center campus in Hawesville, Kentucky, including the full repayment of its bridge credit facility, as well as for future site acquisitions and general corporate purposes. This capital raise supports TeraWulf's expansion plans and strengthens its financial position.