Bitcoin Mining Giant to Raise $350 Million for Share Buyback Program

TeraWulf, a Bitcoin mining firm, plans to raise $350 million by issuing convertible senior notes to fund a $200 million share buyback program.

The company will allow initial buyers to invest an additional $75 million within 13 days of the notes’ issuance, which will mature on February 1, 2030.

The proceeds will be used for stock repurchases and general corporate expenses, with a buyback of up to $200 million authorized until December 31, 2025.

This strategy follows TeraWulf’s recent sale of a 25% stake in the Nautilus facility for about $92 million. In September, the company mined 176 Bitcoin, down from 184 in August.

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Despite facing revenue declines post-halving, Bitcoin mining difficulty increased by 3.9% to an all-time high of 95.7 trillion. TeraWulf’s stock fell 1.99% to $6.40 on Wednesday but has risen 178.26% this year, giving it a market cap of $2.44 billion, making it the fifth-largest public Bitcoin miner.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.