Bitcoin miner Terawulf is proposing to raise $350 million through a private issue of convertible notes, which would also give initial purchasers of the notes an option to add $75 million within 13 days of its issuance. The company has not finalized pricing and interest rates for the offering, but said the notes will mature in 2030. Terawulf intends to use the proceeds from the offering for general corporate purposes and to repurchase its outstanding common stock by December 2025 for up to $200 million.