TeraWulf is working with Morgan Stanley to secure $3 billion in debt, supported by Google, to expand its data center operations amidst rising AI demand for infrastructure.
TeraWulf, a cryptocurrency mining firm, is set to raise $3 billion in debt, backed by Google, to expand its data centers. Google, which owns 14% of TeraWulf, is supporting the move as part of its broader strategy to tap into the growing AI demand for data infrastructure. TeraWulf's funding plans, arranged with Morgan Stanley, could launch as early as next month, potentially using high-yield bonds or leveraged loans. This deal mirrors similar partnerships Google has established with other crypto firms like Cipher Mining.