Sep 04, 2024
Bitcoin Miner TeraWulf Leads Early HPC Market Entry, Analyst Projects $610M Revenue By 2026
Needham analyst John Todaro initiated coverage on TeraWulf Inc (NASDAQ:WULF) with a Buy rating and a price target of $6. Todaro noted that TeraWulf is one of the best miners for converting data center capacity to High-Performance Computing (HPC). HPC represents a high-margin, large, and growing revenue opportunity with long-term contracts that provide revenue and margin transparency longer term. Todaro noted that TeraWulf will be early to market in bringing a 100MW+ site online for HPC. Addition