TeraWulf Inc. (NASDAQ:WULF) edged down 0.96% to $9.29 in pre-market trading on Tuesday.
Check out the current price of WULF stock here.
Convertible Notes Structure Details
The shares of the Maryland-based company dipped to $9.34 in the extended trading session, despite announcing a $400 million private offering of convertible senior notes due 2031. The company granted initial purchasers a 13-day option to acquire an additional $60 million in notes, bringing the total potential offering to $460 million.
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The notes will function as senior unsecured obligations, paying semiannual interest beginning March 1, 2026, and maturing September 1, 2031. TeraWulf plans to utilize proceeds primarily for capped call transactions designed to reduce dilution from potential note conversions.
Google Backstop Commitment Increases
Alphabet Inc.‘s (NASDAQ:GOOGL) (NASDAQ:GOOG) Google division expanded its financial commitment to TeraWulf by an additional $1.4 billion, raising its total debt backstop to $3.2 billion. This increased backing coincides with Fluidstack’s expansion at TeraWulf’s Lake Mariner data center campus in Western New York.
Google secured warrants to purchase 32.5 million TeraWulf shares, expanding its pro forma equity stake to approximately 14%. The tech giant’s backing supports the new CB-5 data center, which will add 160 MW of critical IT load when operational in the second half of 2026.
AI Infrastructure Revenue Growth
TeraWulf’s contracted IT load reached 360 megawatts, representing $6.7 billion in secured revenue with potential to reach $16 billion through lease extensions. The company signed two 10-year high-performance computing colocation agreements with Fluidstack, locking in approximately $3.7 billion in contracted revenue.
B. Riley Securities (NASDAQ:RILY) raised its price target from $8 to $14, citing stronger revenue visibility and expanded partnerships. TeraWulf reported second-quarter results beating expectations with a 5-cent per share loss versus the 7-cent forecast, while sales reached $47.64 million above the $46.08 million estimate.
Market Performance Analysis
Despite the after-hours decline of 1.08%, the crypto miner gained 65.72% year-to-date and surged over 72.11% in the past five days following the Google partnership announcement. The stock jumped more than 40% during Thursday’s midday trading session, reflecting strong investor confidence in the company’s AI infrastructure positioning.
The stock has been volatile, trading between $9.30 and $10.71 during the day.
Price Action: TeraWulf Inc. shares closed 4.57% higher at $9.38 during regular trading hours on Monday, according to Benzinga Pro data.
With a strong Momentum in the 95th percentile, Benzinga’s Edge Stock Rankings indicate, WULF stocks have positive trends across all time frames. Know how the stock fares on other parameters here.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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