Bernstein initiated coverage of TeraWulf Inc. (WULF) with an Outperform rating.
The investment firm established a price target of $46.00.
Analyst Gautam Chhugani cited the company’s multi-gigawatt power development pipeline as a key advantage.
TeraWulf leverages a capital-light lease model and hyperscaler sponsorship to grow AI revenue.
The firm views bitcoin miners as essential providers for urgent AI computing power needs.
Miners increasingly utilize existing power capacity to support artificial intelligence data centers.