TeraWulf привлекла рекордные $3,2 млрд на развитие ИИ-инфраструктуры

cryptonews.ruPublished on 2025-12-19Last updated on 2025-12-19

Компания TeraWulf оценила ранее объявленное размещение старших обеспеченных облигаций на $3,2 млрд с купонной ставкой 7,75%. Это обеспечило крупнейшее заемное финансирование от компании, занимающейся майнингом биткоинов, для расширения в сферу искусственного интеллекта.

Облигации, выпущенные через дочернюю компанию WULF Compute LLC, подлежат погашению в 2030 году. Они будут проданы по номинальной стоимости квалифицированным институциональным покупателям в соответствии с Правилом 144A Закона о ценных бумагах. Закрытие сделки ожидается 23 октября при соблюдении обычных условий.

Вырученные средства направят на финансирование текущего расширения центра обработки данных TeraWulf Lake Mariner в Баркере, штат Нью-Йорк. Этот проект компания трансформирует в центр высокопроизводительных вычислений для задач искусственного интеллекта.

При ставке 7,75% годовых TeraWulf может столкнуться с выплатой процентов почти в $250 млн в год, что значительно превышает ее текущую выручку. Компания сообщила о совокупной выручке около $140 млн за 2024 год и $82 млн за первую половину 2025 года от майнинга биткоинов. Эти показатели не включают себестоимость, операционные расходы, коммерческие, общие и административные расходы. Масштаб нового долга подчеркивает, насколько агрессивно TeraWulf делает ставку на успех своей стратегии диверсификации в сфере ИИ.

Облигации гарантированы дочерними компаниями WULF Compute и обеспечены залоговыми правами первой очереди на их активы. В залог включены доли в акционерном капитале и специальный счет Fluidstack USA I Inc. До завершения расширения Lake Mariner компания Google LLC предоставит варранты на покупку обыкновенных акций TeraWulf в рамках пакета обеспечения. Это подчеркивает косвенную финансовую связь технологического гиганта с проектом.

Финансирование TeraWulf последовало за ее партнерством с Fluidstack, оператором инфраструктуры, поддерживаемым Google. В рамках сотрудничества в кампусе озера Маринер разместят кластеры графических процессоров для крупномасштабных задач ИИ.

Эмиссия рекордного объема, которая более чем в три раза превышает размещение конвертируемых облигаций на $1 млрд от IREN ранее в этом месяце, ставит TeraWulf в авангарде перехода индустрии майнинга биткоинов к инфраструктуре ИИ и высокопроизводительных вычислений. Однако, учитывая что годовая нагрузка компании по процентам превышает ее остаточную выручку, успех этого перехода определит, окупится ли такая стратегия.

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