TeraWulf BTC Miner will list on NASDAQ after raising $ 200 million
BTC mining company TeraWulf is listed on NASDAQ after raising $ 200 million in debt and equity funding to bolster its capital structure ahead of a public listing. So find out more on the latest bitcoin news today.
BTC Miner TeraWulf is an American company that has raised $ 200 million in debt and equity financing group investors and is expected to have a mining capacity of 6 Exahash per second, or 200 megawatts, as a result of a corporate merger with technology company IKONICS Company. As part of the $ 200 million financing, TeraWulf signed a $ 123.5 million secured loan, and the miner entered into agreements with investors to purchase newly issued shares of the public company for a total purchase price of $ 76.5 million. Dollars off. Paul Prager, CEO of the company, wrote:
“TeraWulf’s ability to raise private capital underscores the appeal of bringing a new model for crypto mining to the public market.”
He added that the company is aiming to grow larger than any other public BTC mining organization, with TeraWulf aiming to produce BTC that runs on 100% carbon-free energy. The company announces its plans to become a NASDAQ-listed company through a partnership with the IKONICS consortium, and the merger is expected to be completed by the end of this month when TeraWulf, bearing the symbol “WULF”, enters the world market.
Some of the largest companies in the space, such as Riot Blockchain and Marathon Electronic, have already traded their shares on the Nasdaq, with the former trading under the ticker RIOT, while the latter trading as “MARA”. A few days ago, Griid Infrastructure, another BTC mining company, and test company Adit EdTech Acquisition Crop announced a merger and the company would later acquire Griid Holdco, a new holding company and parent company of Griid. The startup will have a total value of 3.3 billion US dollars and will operate under the name “GRDI”.
Paul Prager, President and CEO of TeraWulf, said, “We are excited to have reached this next step in bringing our new cryptocurrency to the public market as a publicly traded company and mining model.” https://t.co/1pRunsh50P
– TeraWulf (@TeraWulfInc) November 15, 2021
Much like TeraWulf, Griid is geared towards green BTC mining and has even managed to secure low-cost electricity pipelines that focus on carbon-free production counterparts. The company’s CEO David Shrier said:
“Grid’s combination of a large, carbon-free, low-cost power pipeline, exceptional access to next-generation ASICs, and their market-leading execution position to deliver profit and attractive growth.”