Bitcoin miner Terawulf raises $10 million in new funding to reduce debt and restructure its agreement with Bitmain

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Terawulf, a bitcoin mining startup with headquarters in Maryland, declared on Monday, December 12, 2022, that it had raised $10 million to reduce debt

The company added that it had revised its agreement with Bitmain, allowing it to better utilize the 160 megawatts of Terawulf’s available mining power and enhance its self-mining capability.

Terawulf Raises $10 Million in New Capital, Restructured Bitmain Deal Will Give the Firm 8,200 ASIC Mining Rigs

On Dec. 12, the publicly-listed Terawulf Inc., (Nasdaq: WULF) revealed the company has managed to raise $10 million in capital to repay debts

Additionally, Terawulf has been able to rework a contract with Bitmain in order to expand the company’s activities with 8,200 application-specific integrated circuit (ASIC) bitcoin mining equipment.

Despite the difficult environment bitcoin miners must operate in, Terawulf’s co-founder and chief operating officer Nazar Khan said on Monday that his company is well-positioned.

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