TeraWulf Inc (NASDAQ:WULF) shares climbed Monday after a major Wall Street firm initiated coverage of the bitcoin mining and data center company with a Buy-equivalent rating and a $34 price target.

Key Highlights

  • TeraWulf shares rose after a major brokerage initiated coverage with a bullish rating and a $34 price target.
  • The new price target implies significant upside from the stock's recent trading levels.
  • The move also coincided with a broader rally across crypto-linked equities following the US-Iran peace deal.
  • TeraWulf has positioned itself across both bitcoin mining and high-performance computing infrastructure.

TeraWulf Inc (NASDAQ:WULF), a company operating bitcoin mining facilities alongside an expanding high-performance computing and data center infrastructure business, saw its shares rise Monday after a major Wall Street firm initiated coverage with a bullish rating and a $34 price target, implying substantial upside from current levels.

The new coverage adds to growing investor interest in companies that sit at the intersection of cryptocurrency mining infrastructure and the broader artificial intelligence data center buildout. TeraWulf has increasingly emphasized its potential to repurpose or expand power-dense facilities originally built for bitcoin mining toward high-performance computing workloads, a strategy that has drawn comparisons to other digital infrastructure companies pursuing similar pivots.

Monday's move also came against the backdrop of a broader rally across cryptocurrency-linked equities, with Bitcoin advancing past $65,000 following news of a peace agreement between the United States and Iran. The improved risk appetite across crypto markets provided an additional tailwind for bitcoin mining stocks more broadly.

For TeraWulf specifically, the combination of fresh bullish coverage and a supportive macro backdrop for crypto-adjacent equities helped drive Monday's gains, with investors weighing both the company's underlying mining economics and its longer-term positioning within the AI infrastructure theme.