Terawulf Inc is trading at $25.28 (down 3.4%) as investors lock in gains following a sharp rally and a broader pullback in the cryptocurrency market.
- The stock recently surged after Bernstein initiated coverage with an Outperform rating and a $46 price target, citing the company's multi-gigawatt power pipeline and AI demand potential.
- Major cryptocurrencies like Bitcoin and Ethereum have declined 2–3% since the last close, weighing on high-beta crypto-linked miners.
- Market observers view the move as healthy profit-taking following bullish analyst commentary and a softer crypto tape.