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. Read more
Metaplanet said it is studying Bitcoin-backed digital credit products in Japan with JPYC and Progmat, but no product has been launched. Japanese investment and Bitcoin treasury company Metaplanet's securities arm, Metaplanet Securities, stablecoin issuer JPYC and tokenization infrastructure provider Progmatare are tying up on a joint study on Bitcoin-backed digital credit products in Japan. The study involves using BTC as collateral and a credit enhancement tool combined with the Japanese yen-pegged JPY Coin (JPYC) stablecoin for settlement and payments, while security tokens will be used to manage holder rights, Metaplanet said Friday. The joint study will examine whether Bitcoin can be used as collateral or credit enhancement for digital corporate bonds and other credit instruments, with 24/7 accessibility, settlement and daily interest accrual for holders, issued on the blockchain ledger. No product has been launched yet as part of the experiment. Read more
Bitcoin bulls faced "crucial resistance" at $65,000 next as BTC price action diverged from oil and US dollar strength. Bitcoin (BTC) eyed new July highs on Friday as US-Iran peace momentum kept oil lower. Key points: Data from TradingView showed BTC/USD climbing above $64,000, coming within $400 of new three-week highs. Read more