Keefe Bruyette Upgrades TeraWulf (WULF) on Massive 505% Projected EBITDA Growth

21 hours ago 3

Maham Fatima

Thu, January 8, 2026 astatine 8:12 AM CST 2 min read

TeraWulf Inc. (NASDAQ:WULF) is 1 of the most buzzing stocks to put successful according to hedge funds. On December 31, Keefe Bruyette expert Stephen Glagola upgraded TeraWulf to Outperform from Market Perform with a terms people of $24, up from $9.50, owed to a important marketplace underestimation of the company’s pivot from Bitcoin mining to HPC. The steadfast projects that TeraWulf’s existing lease agreements volition thrust a monolithic 505% CAGR successful EBITDA done 2027. Glagola maintains that the caller sector-wide sell-off has created a compelling risk/reward asymmetry, arsenic HPC is acceptable to make implicit two-thirds of TeraWulf’s gross by 2026, rendering bequest mining mostly immaterial by 2027.

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In different news, connected December 18, TeraWulf Inc. (NASDAQ:WULF) and Fluidstack announced the palmy pricing of project-level financing for their 168 MW HPC associated venture. Located astatine the Abernathy, Texas campus, the task volition make a next-gen, liquid-cooled AI information halfway with a gross powerfulness capableness of 240 MW (168 MW of captious IT load). The installation is designed to service a planetary hyperscale AI level and remains connected way for commissioning successful H2 2026.

Keefe Bruyette Upgrades TeraWulf (WULF) connected Massive 505% Projected EBITDA Growth

The fiscal operation of the woody is notably robust, benefiting from an investment-grade recognition profile. Google has provided astir $1.3 cardinal successful semipermanent lease-backing commitments done Fluidstack’s level to enactment the task debt. This recognition enhancement was a captious origin successful the palmy pricing, arsenic it allows for much businesslike superior formation. TeraWulf maintains a 51% bulk ownership successful the JV, which is projected to make ~$9.5 cardinal successful contracted gross implicit a 25-year term. As of aboriginal 2026, TeraWulf’s full contracted HPC level exceeds 510 MW, and the institution plans to deploy an further 250 MW to 500 MW of capableness annually.

TeraWulf Inc. (NASDAQ:WULF), unneurotic with its subsidiaries, operates arsenic a integer plus exertion institution successful the US.

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