TeraWulf Seeks $3.5B Debt Raise for Anthropic-Linked Data Center

Key Facts

In a move reflecting the accelerating convergence between crypto mining and artificial intelligence, TeraWulf is reportedly seeking a massive debt facility. According to reports, the Bitcoin miner is planning to raise $3.5 billion in a deal led by Morgan Stanley, with the proceeds earmarked for the development of its Kentucky data center campus. This infrastructure is specifically designed to support its tenant, the AI safety and research company Anthropic.

This financing marks a pivotal shift in TeraWulf's business model from pure-play Bitcoin mining to supporting high-demand AI workloads, a trend seen across the sector as peers like Core Scientific secure multi-billion dollar deals with firms like CoreWeave (per market data). The scale of the $3.5 billion raise underscores the growing appetite of major financial institutions like Morgan Stanley for AI-linked infrastructure assets, which offer more predictable cash flows than the volatile crypto mining rewards.

Investors are closely monitoring the company's stock (0QYU.L), which stood at $223.63 at the close of July 9, 2026. While the upcoming economic calendar lacks immediate sector-specific catalysts, the focus will remain on the final terms of the debt facility and any further updates regarding the operational timeline of the Kentucky facility for Anthropic's workloads.