Morgan Stanley-led credit line for TeraWulf grows to $400 million

TeraWulf now has a much bigger corporate credit card, and Morgan Stanley’s name is on the statement. The Bitcoin miner and high-performance computing company has amended its senior secured revolving credit agreement. Total commitments rose from $250 million to approximately $400 million. Morgan Stanley Senior Funding, Inc. serves as administrative and collateral agent on the facility. What changed in the facility TeraWulf (NASDAQ: WULF) signed Amendment No. 1 to its Revolving Credit Agreement on October 23, 2026. The original agreement was dated May 7, 2026. The headline change is size. Going from $250 million to approximately $400 million works out to an increase of roughly 60% in committed capacity. A revolving credit facility works a lot like a business credit line. The company can draw money when it needs it, repay it, and draw again, up to the committed limit. Because this one is senior secured, lenders hold a claim on company assets as collateral. The amendment also adds an uncommitted accordion feature. It allows for up to an additional ~$150 million in commitments, but only if lenders choose to participate. The amendment removes a previous $150 million sublimit on letters o...