TeraWulf stock declines on $900 million share sale to fund AI data center expansion
CoinDesk·3h ago·Neutral
What Happened
TeraWulf announced a $900 million share sale, pricing 47.4 million shares at $19 each. The stock dropped 5.8% in early trading Wednesday. Funds will build a data center campus in Hawesville, Kentucky, repay bridge financing, and support expansion. First-quarter 2026 revenue is projected between $30 million and $35 million. The company holds $3.1 billion in cash and $5.8 billion in debt. High-performance computing hosting now represents over half of revenue.
Key Entities
TeraWulf (WULF)Hawesville, Kentucky$900 million capital raiseCompass Point analyst Michael DonovanHigh-performance computing (HPC) hosting