TeraWulf forms $9.5 billion AI compute joint venture with Fluidstack
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Compass Point on Terawulf Inc. (WULF) Amid 22.5pct Run: 'we view the new site as evidence of TeraWulf's extended toolbox for adding to its pipeline'
October 28, 2025 2:10 PM EDTCompass Point analyst Michael Donovan reiterated a Neutral rating and $17.00 price target on Terawulf Inc. (NASDAQ: WULF).
The analyst comments "Majority-owned, pass-through JV that locks long-duration demand. Discussed in our previous note, we expected TeraWulf to expand outside of New York, yet we are still surprised by the speed. This morning, TeraWulf announced a 25-year modified-gross JV with Fluidstack with no dilution for 168MW of critical IT load at Abernathy, TX, backed by a $1.3B Google lease backstop and targeting RFS in 2H26. The deal speaks to the confidence Fluidstack has... More
