TeraWulf Inc., a Bitcoin mining company, has announced plans to raise $350 million through a private offering of convertible senior notes. This initiative aims to fund a $200 million share repurchase program. The convertible notes will mature on February 1, 2030, and early buyers will have the option to acquire an additional $75 million shortly after the offering. The announcement follows a recent surge in TeraWulf's stock price, which increased by 71% from October 9 to October 22. However, the stock experienced a 7% decline to $5.84 following the news of the convertible notes, which were initially reported to be valued at $425 million. The company is also planning to buy back $115 million in stock and invest $51 million in capped calls as part of its capital strategy.