TeraWulf's $900M Glow-Up: Bitcoin Miners Want In on AI, Investors Want Out

TeraWulf's stock got absolutely rekt Thursday after the crypto mining outfit announced an upsized $900 million equity raise to fund an AI data center buildout. Because nothing says "we're pivoting to the hottest narrative alive" quite like a nine-figure capital raise.

The company, known for running its Bitcoin mining ops on nuclear and hydropower, is apparently ready to redirect some Hashrate toward the red-hot AI sector. The raise was bumped up from its original target—because nothing screams "we're dead serious about AI" like nine figures of fresh capital. Diamond hands? More like diamond FOMO.

Investors, however