TeraWulf Sees 22.3% Short Interest, Hedge Fund Buys $1.1M Stake
TeraWulf has 22.28% of its shares sold short, ranking third among crypto mining firms with market caps above $2 billion as Bitcoin volatility accelerates bearish bets. Mike Alfred's Alpine Fox LP added a $1.1 million position in TeraWulf last quarter, highlighting investor confidence in its brownfield energy AI factory developments.
1. Elevated Short Selling Pressure
TeraWulf's short interest reached 22.28% of float as of mid-February, the third-highest among cryptocurrency mining companies with market capitalizations exceeding $2 billion. This spike follows a drop in Bitcoin to around $60,230 on February 6, intensifying bearish bets on mining equities.
2. Alpine Fox LP Increases Stake
Mike Alfred's Alpine Fox LP disclosed a new $1.1 million position in TeraWulf during the latest quarter. The addition underscores institutional interest in the company's conversion of brownfield energy sites into AI-focused data processing facilities and its diversification beyond pure Bitcoin mining.