Bitcoin mining company TeraWulf plans to issue $3.2 billion in bonds to fund its AI data center expansion.

Jinse Finance reported that bitcoin mining company TeraWulf Inc. announced plans to raise $3.2 billion through the issuance of senior secured notes, marking the largest single debt financing attempt by a publicly listed bitcoin mining company. TeraWulf stated on Tuesday that the senior secured notes, due in 2030, will be offered in a private placement to qualified institutional investors under Rule 144A of the Securities Act. The funds raised will be used for the next phase of development of the "Lake Mariner" project, which is being transformed into a hybrid campus integrating both bitcoin mining and artificial intelligence (AI) hosting.