TeraWulf plans to issue debt to raise $3.5 billion to build Kentucky AI data center

CoinFeed July 10 news, according to Bloomberg, TeraWulf plans to raise approximately $3.5 billion through debt financing (including leveraged loans and high-yield bonds) to build the Justified Data data center campus in Kentucky, USA, and enter the leveraged loan market for the first time. The company has signed a 20-year lease agreement with Anthropic for the campus, expected to generate approximately $19 billion in revenue, with two 5-year renewal options. Morgan Stanley is expected to lead this financing, and lenders that participated in TeraWulf's earlier $250 million revolving credit facility may join. TeraWulf has shifted from Bitcoin mining to AI infrastructure in recent years, while providing chip leasing services to Anthropic at other data centers.