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 approximately $3 billion to support the construction of its data centers.

Morgan Stanley is arranging this potential deal for TeraWulf, which could launch as early as October, with financing possibly completed through the high-yield bond or leveraged loan markets. Google is expected to provide backstop support for the deal, which could lead to a higher rating for the debt, with rating agencies determining the credit rating of the transaction in the range of BB to CCC.