TeraWulf Plans $3.5B Debt Raise to Fund Anthropic AI Campus
WULF has more than doubled off its 52-week low of $4.64 on light trading volume (0.3× avg).
Summary
TeraWulf is preparing a $3.5 billion debt raise, led by Morgan Stanley, to finance construction of its Justified Data campus in Kentucky where Anthropic has signed a 20-year lease. This marks the company's first entry into the leveraged loan market and follows a $19 billion lease agreement with Anthropic announced on July 6. The debt package, expected to launch this year, underscores the capital-intensive shift from bitcoin mining to AI infrastructure. With $3.2 billion raised in October 2025 and $1.3 billion in December, the company is aggressively funding its transition. The Anthropic campus, with 401 MW of capacity coming online in H2 2027, is now central to TeraWulf's valuation.
At the time of this announcement, WULF was trading at $21.92 on NASDAQ in the Crypto Assets sector, with a market capitalization of approximately $10.9B. The 52-week trading range was $4.64 to $29.84. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: CryptoProwl.