TeraWulf slides 28% after the bell on stock offering

TeraWulf ( NASDAQ: WULF ) stock slid 28.2% after the bell on Wednesday as the bitcoin miner announced an underwritten public stock offering . Underwriter will be granted a 30-day option to buy up to an additional 15% of the number of shares in the offering. Net proceeds will be used for general corporate purposes, which may include working capital and/or capital expenditures. Shares of TeraWulf ( WULF ) gained 41.1% over the last month, tracking broader gains in the cryptocurrency market after last year's downturn. Earlier, TeraWulf ( WULF ) more than tripled its bitcoin production in Q4 .