TeraWulf Projects Up to 3.0 GW Capacity by Decade-End; BofA Initiates Buy Rating
WULF has more than doubled off its 52-week low of $3.395.
Summary
TeraWulf announced ambitious long-term growth plans, targeting 1.8-3.0 GW of IT capacity by the end of the decade. This includes near-term milestones like completing the Lake Mariner buildout and securing a tenant for its Justified Data campus in Kentucky, building on its recent Muskie Data Campus acquisition. Bank of America Securities initiated coverage with a Buy rating and a $34 price target. The company also noted that HPC lease revenue surpassed Bitcoin mining revenue for the first time in Q1, a shift previously disclosed in its quarterly report. This news reinforces a strong growth narrative and adds institutional validation for a company trading near its 52-week high.
At the time of this announcement, WULF was trading at $28.15 on NASDAQ in the Technology sector, with a market capitalization of approximately $14B. The 52-week trading range was $3.40 to $28.45. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Wiseek News.