BTC Miner TeraWulf To List On NASDAQ After $200M Fund Raise

The BTC miner TeraWulf eyes a listing on NASDAQ after it raised $200 million in debt and equity financing in order to enhance its capital structure before the public listing so let’s find out more in today’s Bitcoin latest news.

The BTC miner TeraWulf is an American company that raised $200 million in debt and equity financing group investors and as result, the company expects to achieve a mining capacity of 6 exahash per second or 200 megawatts by the end of 2022. TeraWulf eyes public listing on Nasdaq via a business merger with the tech company IKONICS Corporation. As a part of the $200 million financings, TeraWulf entered into a $123.5 million secured term loan and the miner signed agreements with the investors to purchase newly issued shares of the company’s stocks for an aggregate purchase price of .
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5 million. Paul Prager, the Chief Executive Officer of the company wrote:

“TeraWulf’s ability to raise private capital underscores the attractiveness of bringing a new paradigm for cryptocurrency mining to the public markets.”

He added that the company aims to become bigger than any other public BTC mining organization with TeraWulf aiming to produce BTC powered by 100% zero-carbon energy. The entity revealed plans to become a NASDAQ-listed company via a business combination with the IKONICS corporation and this merge is supposed to be completed later this month when TeraWulf will enter a global marketplace under the symbol “WULF.
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Some of the biggest players in the field like Riot Blockchain and Marathon Digital, already have their shares traded on Nasdaq, and the former trades under the RIOT ticker while the latter under “MARA.” a few days ago, Griid infrastructure which is another BTC mining company and the checking firm Adit EdTech Acquisition Crop announced a merger and the latter will acquire Griid Holdco which is a new organization and parent of Griid. The newly formed company will have a combined value of $3.3 billion and will trade as “GRDI.”

"We are pleased to reach this next phase on our path to launch as a publicly listed company and bring our new paradigm for cryptocurrency mining to the public markets," said Paul Prager, Chairman and Chief Executive Officer of TeraWulf. https://t.co/1pRunsh50P

— TeraWulf (@TeraWulfInc) November 15, 2021

Similar to TeraWulf, Griid is oriented towards green BTC mining and it even managed to secure low-cost power pipelines that are focusing on carbon-free generation partners with the CEO of the company David Shrier stated:

“Griid’s combination of a large pipeline of low-cost, carbon-free power, distinctive access to next-generation ASIC’s, and market-leading execution position them to generate attractive profitability and growth.”