Terawulf increases revolving credit facility to $400 million with amendment

Terawulf Inc. (NASDAQ:WULF) announced Friday that it has entered into an amendment to its existing revolving credit agreement, increasing the total commitments under its senior secured revolving credit facility from $250 million to approximately $400 million. The amendment was executed with Morgan Stanley Senior Funding, Inc. acting as administrative and collateral agent, and includes certain of Terawulf’s subsidiaries as guarantors.

The revised agreement, which took effect Friday, also introduces an uncommitted accordion feature. This provision allows for the potential increase of aggregate commitments by an additional $150 million, contingent on the availability of new lender commitments and the satisfaction of other conditions.

Additionally, the amendment eliminates the previous $150 million sublimit on the issuance of letters of credit. It also provides for the release of collateral from the security interest of the agent upon meeting certain conditions specified in the agreement.

The company stated that the full text of the amended credit agreement will be filed with its upcoming quarterly report for the period ending September 30, 2026. InvestingPro subscribers have access to 14 additional ProTips about WULF, including insights on the company’s cash burn rate and financial health, plus a comprehensive Pro Research Report that transforms complex data into actionable intelligence.

This information is based on a press release statement contained in a filing with the Securities and Exchange Commission.

In other recent news, Terawulf Inc. has been the focus of several analyst reports. UBS initiated coverage with a buy rating, setting a price target of $24.00, highlighting Terawulf’s leasing growth and significant IT lease agreements totaling 840MW, generating an average annual revenue of approximately $1.8 billion. Wells Fargo also began coverage with an overweight rating and a $30.00 price target, praising the company’s management and strategic site locations. Meanwhile, Freedom Capital provided a buy rating with a $19.00 price target, noting the company’s baseline valuation near $14 per share. Rothschild Redburn took a more cautious approach, assigning a neutral rating and a $15.00 price target, utilizing a discounted cash flow method for valuation. Additionally, Citi initiated coverage with a Buy/High Risk rating, suggesting potential benefits from a possible Starlink network build scenario. These developments reflect a diverse range of analyst perspectives on Terawulf’s potential performance.