TeraWulf (WULF) Gets Initiated With a Market Outperform Rating at JMP Securities

TeraWulf Inc. (NASDAQ:WULF) is one of the top bitcoin mining stocks to buy amid bitcoin hike. On May 22, JMP Securities analyst Greg Miller initiated coverage on TeraWulf Inc. (NASDAQ:WULF) with a Market Outperform rating, setting a price target of $7.

In fiscal Q1 2025, TeraWulf Inc. (NASDAQ:WULF) commenced the buildout of dedicated HPC data halls and is on track to deliver 72.5 MW of gross HPC hosting infrastructure to Core42 in 2025.

The company increased its self-mining capacity by 52.5% year-over-year to 12.2 EH/s and energized Miner Building 5, bringing total capacity to 245 MW.

TeraWulf Inc. (NASDAQ:WULF) also initiated the process to secure additional HPC customers, targeting 200–250 MW operational by the end of 2026. The company has $219.6 million in cash and bitcoin holdings as of March 31, 2025.

TeraWulf Inc. (NASDAQ:WULF) operates and owns data center infrastructure specifically designed for high-performance computing and Bitcoin mining. It primarily leverages environmentally sustainable and zero-carbon energy sources, such as hydroelectric and nuclear power, to power its Bitcoin mining and other operations.

While we acknowledge the potential of WULF as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.