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← Terawulf
Fri, Oct 23, 2026

TeraWulf upsizes revolving credit facility to $400 million

Source document ↗

Analysis

Positive for liquidity: TeraWulf significantly expands its revolving credit capacity (to $400M, with a further $150M uncommitted accordion) and removes a letter-of-credit sublimit, giving it more financial flexibility to support its Kentucky data-center buildout and power commitments.

Key points

  • On October 23, 2026, TeraWulf entered into Amendment No. 1 to its senior secured revolving credit agreement with Morgan Stanley Senior Funding, Inc. as administrative and collateral agent.
  • The amendment increases total commitments under the facility from $250 million to approximately $400 million, effective immediately.
  • It also adds an uncommitted "accordion" feature allowing commitments to increase by an additional ~$150 million, subject to lender participation and conditions.
  • The amendment eliminates a prior $150 million sublimit on letters of credit and provides for release of collateral under certain conditions.
  • The full amended credit agreement is expected to be filed as an exhibit to TeraWulf's Q3 2026 Form 10-Q.