TeraWulf Inc. (WULF) reported its September Bitcoin mining update, revealing a stable production rate and ongoing facility development. The company’s focus on efficiency and reinvestment positions it for growth in the Bitcoin mining market.
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Needham analyst John Todaro initiated coverage on TeraWulf Inc (WULF) with a Buy rating and a $6 price target, citing the company’s potential in the high-margin High-Performance Computing (HPC) market. Todaro believes TeraWulf is well-positioned to capitalize on this growing market with its existing data center infrastructure and plans to bring a 100MW+ site online for HPC. He expects TeraWulf to generate significant revenue from HPC in the coming years, leading to attractive margins.