Bitcoin Miner TeraWulf to Raise $350M for Shares Buyback Program

• The firm intends to purchase up to $200 million of its common stock.
• TerraWulf’s stock is up 412% for the past year.
• The firm is expanding into AI data center infrastructure.

“Eco-friendly” Bitcoin (BTC) U.S.-based mining firm TeraWulf is launching a $350 million convertible note offering to target a $200 million share buyback in 2025.

Per an Oct. 23 press release , TeraWulf has announced intentions to launch a $350 million convertible note private offering to qualified institutional investors .

TeraWulf Private Offering

In short, convertible notes are a type of bond that investors can, as the name suggests, convert into a certain number of shares of common stock or cash from the issuing company.

Notably, the firm says it will leverage net proceeds from the offering to pay the costs of capped call transactions, repurchase  shares of its common stock, and “for general corporate purposes.”

Outlining its confidence, the firm has also announced that it will be repurchasing up to $200 million of its outstanding shares of common stock through Dec. 31, 2025. As per the release:

“TeraWulf intends to repurchase shares using excess cash, prioritizing this initiative after disciplined capital expenditures aimed at supporting organic growth in HPC/AI and evaluating strategic opportunities, such as potential site acquisitions.”

It is unclear what percentage of the $350 million convertible note offering will be allocated to the common stock buyback.

TeraWulf Growth

Furthermore, the news arrived just a few months after the firm cleared all its debt  on its books. In July, the firm cleared a $77.5 million debt ahead of schedule, which is a great sign of health, especially for a Bitcoin mining company.

TeraWulf’s stock, WULF, is up an impressive 412% over the past year.

The firm, which prides itself on leveraging low-carbon emission infrastructure, is  also reportedly venturing into artificial intelligence (AI) data centers.

Having recently bagged an 80-year-long lease to increase its infrastructure capacity by 750 MW, it appears to be very confident in its future performance.