TeraWulf $36 Price Target Signals 39% Upside on AI Infrastructure Pivot
WULF•Citi initiated coverage of TeraWulf with a Buy rating and $36 price target implying around 39% upside from Friday’s close. The company has shifted from Bitcoin mining to developing 250–500 MW of high-performance computing and AI data center capacity annually by converting industrial sites with existing grid power.
1. Citi Initiates Coverage
Citi launched coverage of TeraWulf with a Buy rating and set a $36 price target, forecasting roughly 39% upside from the last closing level. Analyst Michael Rollins highlighted the company’s potential in alleviating power bottlenecks for AI data centers and its multi-year growth runway.
2. AI Infrastructure Pivot
TeraWulf has transformed its business model from pure Bitcoin mining into a developer of high-performance computing and AI infrastructure. The firm plans to convert industrial sites with existing grid power allocations into hyperscale facilities, targeting 250–500 MW of data center capacity each year.
3. Trading Performance and Sentiment
Shares initially rose over 3% on the Citi announcement before retracing those gains and ended lower by about 3%. Year-to-date performance stands up 124.8%, with 17 brokerages rating the stock a Buy and short interest at 28.49% of the float, implying a substantial bearish wager.
