TeraWulf

WULF

Market cap $12.7B

Paul Prager, Terawulf CEO, joins 'Power Lunch' to discuss the insatiable demand for electricity around data centers, energy infrastructure and much more.

The artificial intelligence (AI) revolution isn't being built on silicon alone; it's being built on the electric grid. As hyperscale cloud providers and AI developers race to deploy next-generation computing, they are colliding with a hard physical limit: power.

WULF's AI and HPC expansion contrasts with MSTR's Bitcoin-heavy model, shaping a different risk-reward profile.

TeraWulf Inc. (NASDAQ:WULF) shares are trading higher Tuesday after the company announced the acquisition of a hyperscale high-performing computing development site located in Eastern Kentucky.

EASTON, Md., May 26, 2026 (GLOBE NEWSWIRE) -- TeraWulf Inc. (Nasdaq: WULF) (“TeraWulf” or the “Company”), which owns and operates vertically integrated, next-generation digital infrastructure, today announced the acquisition of a hyperscale high-performance computing (“HPC”) development site strategically located in Eastern Kentucky (the “Muskie Data Campus”).

For the past two years, the AI race has been defined by one question: who can get enough Nvidia Corp. (NASDAQ:NVDA) chips? According to IREN Ltd.co-founder and co-CEO Daniel Roberts, investors may soon be asking a very different question.

There's another set of artificial intelligence plays hidden in plain sight. And their roots are in crypto.

TeraWulf proves their AI beneficiary status by bringing power and load demand together, allowing them to tap into the multi-year cloud supercycle. This is why their successful pivot to high-growth HPC operations has been well rewarded, as observed in the premium EV/Sales of 41.36x compared to the sector median at 3x. WULF's high-growth cadence also comes at a price—deteriorating balance sheet at net debt of $2.65B, elevated SBC to revenue ratio, and shareholder dilution risks.

WULF posts a wider-than-expected Q1 loss as digital asset revenues fall, offset partly by growing HPC lease revenues at Lake Mariner.

TeraWulf Inc (NASDAQ:WULF) shares rose in early trading on Monday, after the company reported upbeat first-quarter results on Friday.