TeraWulf shares jumped 10.1% in the most recent trading session on volume that was roughly 1.8 times the 30-day average. This surge marked the largest one-day percentage gain for the company since late last year and was driven by heightened investor interest following reports of new infrastructure deals. Trading activity peaked in the final hour, accounting for nearly 35% of the day’s total volume and underscoring strong speculative demand.

Despite the rally, consensus earnings estimate revisions for TeraWulf have been modestly downward over the past two weeks. Among the eight analysts covering the stock, three have trimmed full-year EBITDA forecasts by an average of 4%, citing slower ramp-up at one of the company’s flagship mining sites. While consensus revenue projections remain roughly flat at $130 million for the fiscal year, margin outlooks have softened by approximately 150 basis points due to higher energy procurement costs.

Founder and CEO Paul Prager highlighted two recently signed power purchase agreements totaling 300 megawatts, aimed at meeting growing demand from hyperscale cloud customers. Prager noted these contracts will supply energy to new data center installations slated to come online in Q4, reducing reliance on spot-market power purchases and locking in fixed rates that are estimated to be 15% below current regional averages. The CEO emphasized that the deals support the company’s broader goal of integrating high-performance computing capabilities.

In a separate announcement, TeraWulf completed the acquisition of two additional sites with a combined generation capacity of 1.5 gigawatts. This move effectively doubles the company’s potential operational footprint and positions it to serve both Bitcoin mining operations and emerging AI/HPC workloads. Management projects the newly acquired capacity could produce up to 350 petahashes per second of computing power once fully operational, driving incremental revenue streams beyond traditional crypto-mining activities.