Bitcoin mining company TeraWulf Inc. has paid off its remaining $77.5 million loan ahead of schedule, eliminating all of its outstanding debt.
The move gives the company greater financial flexibility to take advantage of growing demand for energy infrastructure, particularly to power AI-generated technology. He said on Tuesday It plans to leverage generative AI to reduce cash and outflows.
TeraWulf shares have more than doubled this year, fueled by growing demand for AI hosting. The success follows a trend with other Bitcoin mining companies, such as Core Scientific, which recently secured a $3.5 billion hosting contract with AI startup CoreWeave.
Despite falling 8% on Tuesday, TeraWulf (WolfThe company’s shares are up more than 140% over the past year.
By eliminating its debt and focusing on AI infrastructure, TeraWulf is in a strong position to leverage its energy assets for future growth.
Bitcoin Miners Integrate AI
TeraWilf represents a growing movement within the Bitcoin mining community. Many miners are now moving their operations to high-performance computing (HPC) data centers to facilitate the advancement of AI technology.
TeraWulf currently operates Bitcoin mining facilities that are 95% carbon-free. The company plans to expand its operational infrastructure capacity from 210 MW to 295 MW this year, with the potential to add another 300 MW in the near term.
This expansion includes a high-performance computer project at its facility in Lake Mariner, New York, which is designed to run core GPUs for generative AI.
While TeraWulf and Core Scientific outperformed, other mining companies like Marathon Digital and Riot Platforms struggled to deal with their stocks falling due to concerns about declining profits.
