THE MINING POD: TeraWulf’s Record $3.2B Note, Miner Debt Tops $20B, and Why AI Companies Are Buying Jet Engines

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Tech News, Business News, Daily News, News

4.7 • 698 Ratings

🗓️ 24 October 2025

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

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Summary

TeraWulf is gunning to raise a $3.2 billion secured loan, right as bitcoin miner debt tops $20 billion. Welcome back to The Mining Pod! This week, we dive into TeraWulf’s $3.2B secured note for AI infrastructure—the largest ever for a public miner – and Bitfarms’ $588M convertible note at a time when total industry debt crosses $20B.Plus, why data center companies are salvaging jet turbines to power data centers, CleanSpark’s SVP of AI Data Centers hire, and for this week’s cry corner, pour one out for the Kadena blockchain… Notes: • TeraWulf raised $3.2B secured note at 7.75% • Bitfarms raised $588M convertible note • Total Bitcoin miner debt exceeds $20 billion • Hash price currently at $47/PH/day • Next difficulty adjustment projected +4.7% Timestamps: 00:00 Start 02:01 Difficulty Report by Luxor 05:00 Terawulf debt 08:40 Bitfarms raises $588M 10:55 Jet engine generators? 15:55 Cleanspark hiring 18:50 Miner debt record 👉CleanSpark, America's Bitcoin Miner! CleanSpark (Nasdaq: CLSK), America's Bitcoin Miner®, is a market-leading Bitcoin miner with a proven track record of success. They own a fully self-operated portfolio of mining facilities across the U.S. powered by globally competitive energy prices. CleanSpark sits at the intersection of Bitcoin, energy, operational excellence and capital stewardship. Optimally monetizing low-cost, high reliability electricity positions them to prosper in an ever-changing world. 👉 FBOX, Cooling for Bitcoin Mining and the AI Data Center Transformation FBOX is the global leader in cooling system manufacturing, with the #1 shipment volume of bitcoin mining containers worldwide. Not only powering for the strongest hashrate, their technology also helps mining infrastructure transform into AI data centers. Backed by the largest production scale on earth, global deployment capability, and a full range of cooling solutions, they are shaping the future of compute. 👉 Luxor, Leaders In Bitcoin Mining and Compute Power! Get game-changing mining results with Luxor Firmware. Boost hashrate, cut energy costs, protect your hardware, and maximize mining profits with LuxOS. Published twice weekly, "The Mining Pod" interviews the best builders and operators in the Bitcoin and Bitcoin mining landscape. Subscribe to get notifications when we publish interviews on Tuesday and a news show on Friday!

Transcript

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0:00.0	Terra Wolf just priced the largest note ever for a public Bitcoin miner, a $3.2 billion secured note as the AI raise heats up among Bitcoin miners.
0:09.4	This is the mining pod brought to you by CleanSpark. Welcome back to this week's News Roundup.
0:13.9	We've got a full docket for y'all this week. We've got the story from Terawolf as well as another raise from BitFarms, an upsized convertible note at $588 million.
0:22.5	We've got a really interesting story about jet engines being repurposed for AI data centers.
0:29.1	One of those poppies can generate about 48 megawatts, by the way, if you convert it for something like that.
0:34.1	An update on CleanSpark hiring out a senior vice president for AI data centers. And also,
0:40.0	Bitcoin miner debt hitting an all-time high, but this time it's different. And an update on
0:44.5	how Bitcoin mining debt, according to our friends at Van Eck, has crossed over 20 billion
0:49.7	as of this October. And for this week's Cry Corner, the K-Denna blockchain is closing shop.
0:56.2	This is the mining pot, and we'll be right back after a quick word from our sponsors.
0:59.8	Guys, there is a serious problem right now in Bitcoin mining, and we need to talk about it.
1:04.2	You need to pay attention to this.
1:05.9	Bitcoin miners are identifying as AI companies, and people keep mis-sectoring them because they say, well, look,
1:12.8	your infrastructure is clearly for Bitcoin mining. What do you want me to do about it?
1:16.7	I'm going to tell you what you need to do. You need to call F-Box, the leading digital infrastructure
1:22.6	company with all-encompassing cooling solutions. F-box designs industry-leading air, hydro, and emerging cooling systems for Bitcoin mining and AI and
1:31.1	HBC data centers.
1:32.3	I want to highlight that.
1:33.3	If you're a Bitcoin miner who needs to bridge the gap, if you're pivoting or doing hybrid
1:37.2	operations, they can build cooling solutions and infrastructure for both your Bitcoin
1:41.4	mining and your AI and HBC operations. And they have an in-house
1:46.0	API that lets you monitor it from the web or on mobile. So go to www.fbox.com.com
	...

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