TeraWulf, one of the bitcoin mining companies, borrowed an additional $50 million to expand its operations.
TeraWulf, which continues its data center installation at its facilities in New York and Pennsylvania, received this debt from the Wilmington Trust, from which it previously borrowed.
Wilmington Trust previously owned the company $123.5 million worth a loan.
The moment of maturity of the new debt received on 1 December 2024 and An interest rate of 11.5% was declared.
The decline in the cryptocurrency market has affected many miners. large amounts of bitcoin forced to sell. TeraWulf management, while the market is currently that there are opportunities that cannot be obtained in periods when the market is better is thinking.
According to the statement made by the company’s CEO, Paul Prager, the company’s goal is to: “to turn these opportunities that will create added value to your advantage” will be.
After the company completely built its data center in New York, from there 50 megawatts aims to achieve a capacity.