These convertible notes will be issued under Rule 144A of the Securities Act of 1933, allowing investors to convert the debt into TeraWulf's common stock under certain conditions.

Proceeds from the offering will be allocated for capped call transactions to minimize stock dilution, share repurchases, and general corporate activities.

TeraWulf operates the Lake Mariner facility in New York, which is primarily powered by zero-carbon energy sources, aligning with its environmental, social, and governance (ESG) commitments.

Despite a 21.4% decline in self-mined Bitcoin production due to increased mining difficulty and higher power costs, TeraWulf reported a 130% increase in revenue year-over-year for Q2.

The company's stock closed at $6.40, reflecting a year-to-date increase of 178.26%, highlighting investor confidence in its future prospects.

Additionally, TeraWulf is exploring a potential partnership with a 'Magnificent Seven' company to further expand its operations.

TeraWulf, a Maryland-based Bitcoin mining firm focused on zero-carbon energy solutions, has announced a private offering of $350 million in convertible senior notes due in 2030.

The funds will specifically support a $200 million share repurchase program authorized by the company's board of directors, demonstrating confidence in TeraWulf's business strategy.

The notes will mature on February 1, 2030, with interest payable semi-annually starting in May 2025, and initial purchasers can acquire an additional $75 million of the notes within 13 days of issuance.

This share repurchase initiative is part of TeraWulf's broader strategy to strengthen its capital structure and enhance stockholder value.

The announcement of the offering was made on October 23, 2023, as part of the company's efforts to raise funds from institutional investors.

Earlier this month, TeraWulf sold its 25% stake in the Nautilus Cryptomine for approximately $92 million to acquire cheaper Bitcoin miners and bolster its capabilities in artificial intelligence and high-performance computing.