据报道，比特币矿商 TeraWulf 正在为其由人工智能公司 Anthropic 租赁的肯塔基州数据中心园区寻求由摩根士丹利牵头的 35 亿美元债务融资。 据报道，美国上市的比特币挖矿公司 TeraWulf 正在寻求筹集 35 亿美元的债务，以扩大其位于肯塔基州的 Justified Data 园区，该园区由人工智能公司 Anthropic 根据长期协议租赁。 据彭博社周四报道，TeraWulf 首席财务官 Patrick Fleury 表示，该交易预计将于今年启动，由投资银行摩根士丹利牵头融资。 报道称，该交易可能包括杠杆贷款和高收益债券，这标志着 TeraWulf 首次进入杠杆贷款市场。 这一消息是在 TeraWulf 与 Anthropic 签署肯塔基州设施 20 年租赁协议几天后发布的，这表明人工智能计算能力的需求正在为数据中心运营商创造新的融资机会。 TeraWulf 之前的融资活动包括数十亿美元的发行
位于肯塔基州霍斯维尔的 Justified Data 园区正在开发为一个大型数据中心项目，以支持人工智能计算工作负载，预计将于 2027 年下半年投入运营，并计划于 2028 年初全面扩建。 TeraWulf 表示，该设施预计将在与 Anthropic 的初始租赁期内产生约 190 亿美元的合同收入。 资料来源：TeraWulf 此次 35 亿美元的债务融资是在该公司之前的融资发行之后进行的，分别于 2025 年 12 月和 2025 年 10 月筹集了 13 亿美元和 32 亿美元。 联系了 TeraWulf 和摩根士丹利，请其对所报道的融资发表评论，但截至发稿时尚未收到回复。 TeraWulf 面临内幕交易和增长模式的担忧 TeraWulf 最近引起了投资者对内幕股票销售、股东联盟以及对公司增长模式更广泛担忧的质疑。 周四，比特币矿业咨询公司 Blocksbridge Consulting 强调 TeraWulf 是投资者对受益于人工智能相关势头的比特币矿业公司内幕股票销售进行审查的一个例子。
相关：加密商业：人工智能是矿工的退出策略吗？ TeraWulf 还面临着对其人工智能数据中心模型的经济性的质疑。在周二的 McNallie Money 播客中，Fleury 反驳了卖空者的模型，该模型估计 TeraWulf 数据中心的维护成本更高。他认为，公司的角色是提供电力和设施基础设施，而客户负责他们的计算设备和技术升级。 资料来源：马修·西格尔 弗勒里表示，该公司的长期租赁结构限制了通常与数据中心相关的经常性升级和重新配置成本。 杂志：比特币的量子困境：更大的区块还是 STARK 证明？
Bitcoin miner TeraWulf is reportedly seeking $3.5 billion in debt financing led by Morgan Stanley for its Kentucky data center campus leased by AI company Anthropic.
US-listed Bitcoin mining company TeraWulf is reportedly seeking to raise $3.5 billion in debt to expand its Justified Data campus in Kentucky, a facility leased by artificial intelligence company Anthropic under a long-term agreement.
The deal is expected to launch this year, with investment bank Morgan Stanley leading the financing effort, TeraWulf chief financial officer Patrick Fleury said, according to a Thursday Bloomberg report.
The deal could include leveraged loans and high-yield bonds, marking TeraWulf’s first entry into the leveraged loan market, the report stated.
The news comes days after TeraWulf signed a 20-year lease agreement with Anthropic for the Kentucky facility, showing how demand for AI computing capacity is creating new funding opportunities for data center operators.
TeraWulf’s previous financing activity includes multibillion-dollar offerings
The Justified Data campus in Hawesville, Kentucky, is being developed as a large-scale data center project to support AI computing workloads, with initial operations expected in the second half of 2027 and full buildout targeted for early 2028.
The facility is expected to generate about $19 billion in contracted revenue over the initial lease term with Anthropic, according to TeraWulf.
Source: TeraWulf
The $3.5 billion debt raise follows the company’s previous financing offerings, where it raised $1.3 billion in December 2025 and $3.2 billion in October 2025.
reached out to TeraWulf and Morgan Stanley for comment on the reported financing but had not received a response by publication time.
TeraWulf faces concerns over insider transactions and growth model
TeraWulf has recently drawn investor questions over insider stock sales, shareholder alignment and broader concerns over the company’s growth model.
On Thursday, Bitcoin mining advisory company Blocksbridge Consulting highlighted TeraWulf as an example of the investor scrutiny around insider stock sales at Bitcoin mining companies that have benefited from AI-related momentum.
Related: Crypto Biz: Is AI the exit strategy for miners?
TeraWulf has also faced questions over the economics of its AI data center model. In a McNallie Money podcast on Tuesday, Fleury pushed back against a short-seller’s model that estimated higher maintenance costs for TeraWulf’s data centers. He argued that the company’s role is to provide power and facility infrastructure, while customers are responsible for their computing equipment and technology upgrades.
Source: Matthew Sigel
Fleury said the company’s long-term lease structure limits the recurring upgrades and reconfiguration costs typically associated with data centers.
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