PANews reported on October 24 that according to The Block, Bitcoin mining company TeraWulf plans to raise $350 million by issuing convertible senior notes to support a $200 million stock repurchase plan. The company said that initial purchasers can choose to increase by $75 million within 13 days after the issuance of the notes, which will expire on February 1, 2030, and the specific interest rate has not yet been disclosed. TeraWulf's board of directors has approved the repurchase of up to $200 million of common stock by December 31, 2025.
Earlier this month, TeraWulf announced that it had sold a 25% stake in the Nautilus facility for approximately $92 million . According to the latest operating data, the company mined a total of 176 bitcoins in September, 8 fewer than in August. Currently, TeraWulf is the world's fifth largest listed bitcoin mining company with a total market value of $2.44 billion.
