Green bitcoin miner TeraWulf raises $200M to strengthen capital structure ahead of public listing

Environmentally clean Bitcoin miner TeraWulf raises approximately $200M in debt and equity financing ahead of the company's public listing. The additional capital raised is expected to allow TeraWulf to achieve six exahash per second of mining capacity by the second half of 2022, the company said on Thursday. As part of the capital raising, TeraWulf enters into a ~$123.5M three-year senior secured term loan, and issued to the lenders newly issued shares of TeraWulf's common stock. It also enters into subscription agreements with investors to buy newly issued shares in private placement transactions for an aggregate purchase price of ~$76.5M. TeraWulf previously said it seeks to become a Nasdaq-listed public company through a business combination with IKONICS (NASDAQ:IKNX), an imaging technology company. The business combination is expected to close during the week of Dec. 13, 2021. "We look forward to building on our core ESG focus and pursuing our goal