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TeraWulf Eliminates Debt, Stock Hits $6, Market Cap at $2 Billion
Jul 9, 2024, 01:31 PM
Bitcoin miner TeraWulf has fully repaid its term loan ahead of schedule, eliminating all outstanding debt. The final payment totaled $77.5 million. This financial move has maximized TeraWulf's financial flexibility, allowing it to scale and deploy its low-cost energy infrastructure for bitcoin mining and high-performance computing (HPC)/AI applications. The company’s stock price has surged to $6 per share, resulting in a market capitalization of $2 billion. TeraWulf is now positioned to use its free cash flow to drive substantial and profitable growth. The stock was up 4.4% in pre-market trading.
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