Jun. 3 at 8:29 PM
$WULF Bernstein starts TeraWulf at Outperform on power development pipeline
WULF
4:28 PM
Bernstein analyst Gautam Chhugani initiated coverage of TeraWulf with an Outperform rating and
$46 price target. The company has an "active" multi-gigawatt power development pipeline, strong order book with hyperscaler sponsorship, and a capital-light lease model leading to a "rapid AI-revenue ramp up," the analyst tells investors in a research note. Bernstein views the bitcoin miners as best positioned to solve time to compute given their planned 30 GW power portfolio and operating ability, the firm contends.