Chardan Starts Terawulf Inc. (WULF) at Buy

Chardan analyst Bill Papanastasiou initiates coverage on Terawulf Inc. (NASDAQ: WULF) with a Buy rating and a price target of $32.00.

The analyst comments: “In our view, TeraWulf represents one of the first movers in the transition towards AI/HPC data center infrastructure and has secured a total of four lease agreements to date (Core42, Fluidstack, Anthropic). Management brings extensive multi-decade experience operating power infrastructure assets, which we think helps serve as a distinct advantage navigating power-constrained markets to source, develop, and commercialize the portfolio. TeraWulf has contracted 821MW (excluding the sale of the Abernathy JV) and is now targeting 250 – 500MW of new contracted critical IT load annually, which we think could add >$2.3B in annual net equity value creation for shareholders. We think the Muskie Data Campus (1 GW potential) could be the next site that is contracted and has longer-term optionality for expansion beyond what's been earmarked using innovative front-of-the-meter power generation and battery storage solutions. The footprint currently spans five sites across NY, MD, and KY with a ~3.6 GW power portfolio, of which 73% represents potential pipeline capacity”

For an analyst ratings summary and ratings history on Terawulf Inc. click here. For more ratings news on Terawulf Inc. click here.

Shares of Terawulf Inc. closed at $18.46 yesterday.

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