TeraWulf Launches $800M Stock Offering, Sees Q1 Revenue of $30–35M
TeraWulf plans an $800 million common stock offering, plus a $120 million underwriter option, to fund its Hawesville, Kentucky data center construction and repay its bridge credit facility. The company guided Q1 revenue of $30–35 million, adjusted EBITDA of $0–3 million, and reported $3.1 billion cash against $5.8 billion debt.
1. $800M Stock Offering Details
TeraWulf announced an $800 million common stock offering with a 30-day option for underwriters to purchase an additional $120 million of shares at the public offering price less discounts and commissions. Net proceeds are earmarked for construction of its Hawesville, Kentucky data center, repayment in full of bridge credit facility debt, future site acquisitions and general corporate purposes.
2. Preliminary Q1 Financial Guidance
For the first quarter ending March 31, 2026, TeraWulf expects revenues of $30–35 million and adjusted EBITDA between $0 and $3 million. The company reported $3.1 billion in cash and equivalents against $5.8 billion of debt and has allocations for up to $250 million in a revolving credit facility to support liquidity and ongoing capital requirements.