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Bitcoin Miner TeraWulf Raises $200M in Debt and Equity

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TeraWulf – an environmentally-minded bitcoin mining firm – raised $200 million in debt and fairness financing from institutional and particular person buyers, the corporate announced Thursday.

  • “TeraWulf’s ability to raise private capital underscores the attractiveness of bringing a new paradigm for cryptocurrency mining to the public markets,” CEO Paul Prager stated in a press release.
  • The miner, which expects to mine bitcoin powered by nuclear, hydro and photo voltaic power, will use the funding to attain mining energy of 6 exahash per second by the second half of 2022.
  • The financing contains about $123.5 million in a three-year, senior secured time period mortgage and subscription agreements with buyers to buy newly issued shares of the corporate’s frequent inventory for about $76.5 million.
  • Investment financial institution Moelis acted as an unique placement agent for TeraWulf’s debt and fairness financing.
  • TeraWulf stated on June 25 that it’ll merge with Nasdaq-listed Ikonics (IKNX) to go public and commerce beneath the image “WULF.” The miner stated on Thursday that the deal is anticipated to be accomplished in the course of the week of Dec. 13.

Read extra: Bitcoin Miner TeraWulf to Merge With Nasdaq-Listed Ikonics

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