TeraWulf Inc. shares climbed 4.6% in morning trading today to reach $12.57 after the company's CEO reaffirmed strong demand for its power capacity.

Paul B. Prager, CEO and co-founder, posted on X late Tuesday that demand for the company's power capacity remains strong through 2028 and 2029. He said the company's sites are fully energized to meet that demand.

Prager said the company's economics are robust given current AI supply-and-demand dynamics. He confirmed that the Lake Mariner campus in Western New York remains on track to deliver its CB-4 building this quarter.

Elon Musk spoke at SpaceX's Tuesday earnings call and identified power, cooling, and electrical equipment infrastructure as a constraint on the buildout of superintelligence. The comments boosted sentiment for power-secured AI infrastructure operators including TeraWulf.

TeraWulf and peers Applied Digital and IREN recovered Monday from the prior week's selloff, providing additional momentum heading into today's session.