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TeraWulf raises 3 billion USD for AI and crypto infrastructure
The Bitcoin mining company TeraWulf is planning to raise approximately 3 billion USD to build data centers for AI and crypto, with Morgan Stanley serving as the manager. Google is committed to bail-in a portion of the 1.4 billion USD loan, making transactions safer and potentially achieving a high credit rating.
This move marks TeraWulf's strategic shift from crypto mining to AI infrastructure development, leveraging the existing data center advantages along with a stable power supply — two factors that are scarce in the AI industry.