TeraWulf Prices $900M Upsized Stock Offering

Funds to support data center expansion in Kentucky

Apr. 15, 2026 at 1:18am

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A high-contrast black and white close-up of interlocking gears, pipes, and other heavy industrial machinery, representing the physical infrastructure powering data centers and the digital economy.TeraWulf's $900 million stock offering will fuel the expansion of its sustainable data center operations, a critical backbone of the digital economy.Easton Today

TeraWulf Inc., a developer of sustainable data center infrastructure, announced the pricing of its previously announced public common stock offering. The company priced 47.4 million shares at $19 per share, raising approximately $900 million in gross proceeds, up from the initial $800 million target. TeraWulf plans to use the funds to finance construction costs for its upcoming data center campus in Hawesville, Kentucky, including repaying its bridge credit facility, as well as for future site acquisitions and general corporate purposes.

Why it matters

The successful upsized stock offering demonstrates strong investor demand for TeraWulf's environmentally-focused data center business model. The additional capital will allow the company to accelerate its expansion plans and establish a larger footprint in the growing high-performance computing and bitcoin mining sectors.

The details

The Offering is expected to close on April 16, 2026, subject to customary closing conditions. TeraWulf has also granted the underwriters a 30-day option to purchase up to an additional 7.11 million shares. Morgan Stanley is acting as the lead bookrunning manager, while Cantor Fitzgerald is serving as the company's equity capital markets advisor.

  • The Offering is expected to close on April 16, 2026.
  • TeraWulf granted the underwriters a 30-day option to purchase additional shares.

The players

TeraWulf Inc.

A developer, owner, and operator of environmentally sustainable, industrial-scale data center infrastructure in the United States, purpose-built for high-performance computing and bitcoin mining.

Morgan Stanley

The lead bookrunning manager for TeraWulf's stock offering.

Cantor Fitzgerald

Serving as TeraWulf's equity capital markets advisor for the stock offering.

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What’s next

The stock offering is expected to close on April 16, 2026, subject to customary closing conditions.

The takeaway

TeraWulf's successful upsized stock offering demonstrates strong investor appetite for the company's sustainable data center business model as it looks to accelerate its expansion plans in the high-performance computing and bitcoin mining sectors.