Bitcoin mining company TeraWulf announced plans to raise $400 million through a stock offering to expand its data center.

Golden Finance reported that Nasdaq-listed Bitcoin mining company TeraWulf announced plans to raise $400 million through a stock offering based on market conditions and other factors. The company also expects to grant initial purchasers of the Convertible Bond an option to purchase up to $60 million in additional principal of the Convertible Bonds within 13 days from the initial issuance date of the Convertible Bonds. The new funds are intended for expanding data centers and general corporate purposes.

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