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The stock prices of Bitcoin mining companies transitioning into AI and hyperscale computing continue to climb. IREN rose over 13% on Wednesday, nearing its all-time high. The company previously announced a $3 billion convertible bond offering, partnered with Nvidia to build 5 GW of AI data centers, and acquired Mirantis for $625 million; on Tuesday, it also reached a $1.6 billion agreement with Dell to supply Blackwell AI systems. Both Cipher and Hut 8 hit new record highs, with Cipher rising approximately 9.5% to $25, and Hut 8 increasing nearly 5% to $118. Hut 8 has surged nearly 600% over the past year. TeraWulf rose over 6% on Wednesday and has gained approximately 800% in the past year, with its HPC business quarterly revenue exceeding Bitcoin mining revenue for the first time.
According to GlobeNewswire, Bitcoin mining company and HPC data center operator TeraWulf Inc. (NASDAQ: WULF) announced on April 16 the completion of a public offering of common stock, issuing 54.51 million shares at $19.00 per share, including the full exercise of the underwriters’ over-allotment option (an additional 7.11 million shares), raising approximately $1.036 billion in total. TeraWulf stated that the proceeds will be used for the construction of its Hawesville data center campus in Kentucky, repayment of the outstanding balance under its bridge credit facility, future site acquisitions, and general corporate purposes. Morgan Stanley served as the sole book-running manager, with BofA Securities, Citigroup, TD Cowen, and Wells Fargo Securities acting as joint book-running managers.
Odaily News TeraWulf announced the issuance of 47.4 million shares at $19 per share, raising approximately $9 billion to fund the construction of a large-scale data center campus in Hawesville, Kentucky, repay bridge financing, and support future expansion. Affected by the equity dilution from the financing, the company's stock price fell by about 5.8% during the trading session. The company also disclosed preliminary performance for the first quarter of 2026, expecting revenue to be between $30 million and $35 million, with approximately $3.1 billion in cash on hand and total debt of about $5.8 billion.TeraWulf's management pointed out that high-performance computing (HPC) hosting revenue now accounts for over half of its income, surpassing Bitcoin mining revenue for the first time, driving a shift in its revenue structure towards more stable, long-term cash flows. Analysts believe that while this financing round brings equity dilution, it helps support the expansion of AI infrastructure and enhances visibility for future growth. Overall, this move reflects the industry trend of mining companies accelerating their shift towards AI and high-performance computing to reduce reliance on Bitcoin price volatility and improve profitability stability. (CoinDesk)
According to The Block, Bitcoin mining company TeraWulf raised $900 million through a stock offering, with the funds earmarked for building AI data centers. Following the announcement, TeraWulf’s stock price declined.
Odaily News, according to informed sources, AI cloud platform FluidStack is planning to raise approximately $1 billion at a valuation of $18 billion. Situational Awareness, an institution led by Leopold Aschenbrenner, is in talks to participate and co-lead the round. The funding is expected to be used to accelerate Fluidstack's expansion in the fields of AI computing and cloud infrastructure. It is reported that Fluidstack has previously signed cooperation agreements with multiple Bitcoin mining companies, including TeraWulf, Cipher Mining, Hut 8, and others.