Bernstein Sees 100% Upside In TeraWulf Stock After Earnings

Wall Street brokerage Bernstein has reaffirmed a "Buy" standing connected TeraWulf (NASDAQ: $WULF) stock, on with a $36 U.S. terms target. 

The terms people is 101% higher than wherever WULF banal presently trades. 

Bernstein reiterated its bullish presumption connected the banal aft the Bitcoin (CRYPTO: $BTC) miner turned artificial quality (A.I.) information centre relation issued its second-quarter fiscal results.

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TeraWulf's latest people showed high-performance computing (HPC) gross reaching $32 cardinal U.S., oregon 71% of the company's full sales.

Bernstein said that effect demonstrates that TeraWulf's pivot from pureplay Bitcoin miner to A.I. infrastructure relation is succeeding.

Lead crypto expert Gautam Chhugani said TeraWulf's absorption squad is executing connected its semipermanent maturation strategy. 

He notes that TeraWulf present has contracted gross of $27 cardinal U.S. from 3 A.I. information centre tenants: Anthropic, Fluidstack, and Core42.

TeraWulf said successful its net merchandise that it has delivered 102 megawatts of powerfulness that is generating $180 cardinal U.S. successful annualized recurring gross for the company. 

Bernstein said it likes the set-up for TeraWulf aft its latest net report. 

WULF banal has risen 248% implicit the past 12 months to commercialized astatine $17.91 U.S. per share.