Bitcoin mining company TeraWulf completes $32 million in public equity fundraising to resolve debt problems

Bitcoin mining company TeraWulf has reached a deal to restructure its debt, subject to an equity raise. The company, which raised $32 million in a public offering, has reached a “binding agreement in principle” with existing lenders to restructure its debt.

"As we achieve these achievements, we are more confident than ever that TeraWulf can achieve profitable growth and compelling returns," said CEO Paul Prager. After the transaction is completed, the company expects to achieve free cash flow. (The Block)