BTC miners raise $6B in debt in Q3

Bitcoin mining companies raised a total of $6 billion in the third quarter, primarily through debt instruments like convertible bonds, CoinDesk reported. Citing data from TheMinerMag, the report noted that TeraWulf raised $3.2 billion, while Iris Energy and Bitfarms secured $1 billion and $300 million, respectively. TheMinerMag commented that while miners are currently relying heavily on debt financing, they could mitigate risk by diversifying their revenue streams into areas such as artificial intelligence (AI) and high-performance computing (HPC).