TeraWulf announced an $800 million equity offering, causing its shares to drop 6.6% to $19.45 in pre‑market trading.\\nProceeds will partially fund the Hawesville, Kentucky data‑center build, repay its credit facility, support acquisitions and general corporate needs.\\nPreliminary Q1 guidance shows revenue $30‑$35 million and adjusted EBITDA $0‑$3 million, below Wall Street forecasts of $40 million revenue and $8.8 million EBITDA.\\nThe company reported $3.1 billion cash as of March 31, with Morgan Stanley as lead bookrunner and Cantor Fitzgerald as capital‑markets advisor.