NASDAQ: WULF
Key Data Points
TeraWulf (WULF 3.91%), an environmentally focused bitcoin miner and AI infrastructure operator, closed Monday at $16.65, up 16.52% The stock rose after Morgan Stanley initiated coverage with an Overweight rating and a $37 target, citing TeraWulf’s strong position as an AI-focused data center and its potential for infrastructure growth.
The company’s trading volume reached 64.4 million shares, which is roughly 94% above compared with its three-month average of 33.3 million shares. TeraWulf went public in 1994 and has grown 1,276% since its IPO.
How the markets moved today
The S&P 500 (SNPINDEX: ^GSPC) added 0.45% to finish Monday at 6,964, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) advanced 0.90% to close at 23,239. Within cryptocurrency mining, industry peers Mara Holdings (MARA +2.46%) closed at $8.06 (-2.18%) and Riot Platforms (RIOT 2.03%) finished at $14.97 (+3.60%), underscoring mixed sentiment across bitcoin-linked miners.
What this means for investors
TeraWulf shares rose Monday after Morgan Stanley initiated coverage with an Overweight rating and a $37 price target. The call shifted attention away from short-term bitcoin price swings and toward TeraWulf’s potential as an operator of power-dense data centers built to support AI workloads, which has helped drive both its rally and elevated trading volume.
Morgan Stanley pointed to TeraWulf’s ability to redirect energy capacity from bitcoin mining to AI data center operations, a distinction that set it apart from many crypto-focused peers. The move also builds on a more constructive analyst backdrop, following Needham’s reiterated Buy rating and recent attention on TeraWulf’s partnership with Google tied to large-scale AI infrastructure commitments. Investors will now be watching for developments on progress in converting power assets for data center use and early signs that AI-related revenue can scale beyond pilot projects.
