08:35 AM EDT, 10/14/2025 (MT Newswires) -- TeraWulf ( WULF ) said Tuesday its Wulf Compute unit plans to sell in a private offering $3.2 billion of senior secured notes due in 2030.

Net proceeds are expected to help finance the expansion of the Lake Mariner data center campus in Barker, New York, the company said.

The notes will be guaranteed by Wulf Compute's units La Lupa Data, Akela Data Holdings LLC, and Akela Data LLC, TeraWulf ( WULF ) said.

The company also said it will provide completion guarantees to fund Wulf Compute as needed to finish the new buildings.