Other DebtActive
7.250% Senior Secured Notes due 2030 (Flash Compute)
WULF-FC30
$22.29▲ 4.60%
BTC Holdings
3 BTC
Total Debt
$7.13B
Leverage
1671258.9%
mNAV
43923.17x
Outstanding
$1.30B
Insufficient history
Issue date
2025-12-29
Principal
$1.30B
Coupon
7.25%
Maturity
2030-12-31
Conversion price
—
- Issued by Flash Compute LLC (FS CS I LLC JV: 50.1% Big Country Wulf / 49.9% Fluidstack)
- Semi-annual amortization begins after Abernathy campus completion
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Senior secured
- Payment frequency
- Semi-annual
- Payment dates
- Jun 30, Dec 31
- Rate type
- Fixed
- Collateral
- Data center assets (Abernathy HPC Campus, TX)
- Prepayment
- Par + make-whole premium before Dec 31, 2027; per Indenture schedule after. Up to 40% redeemable pre-2027 from equity offering proceeds
Outstanding History
Outstanding history(1)
| As of | Event | Outstanding |
|---|---|---|
| 2025-12-29 | Issuance | $1.30B |
- 2025-12-29 — $1,300,000,000Items 1.01, 2.03