As the tech industry continues to evolve, companies like TeraWulf Inc. (NASDAQ:WULF) are strategically positioning themselves to capitalize on emerging opportunities in high-performance computing. This shift is drawing significant attention from investors eager to participate in the expansion of data center capabilities.
TeraWulf shares are trading slightly higher on Friday after the company announced in a regulatory filing on Wednesday that it had completed its previously announced $850 million private offering of convertible senior notes due 2031 on Aug. 20.
The total net proceeds from the offering were approximately $828.7 million. The company intends to use $85.5 million of the proceeds to pay the cost of capped call transactions.
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Rosenblatt analyst Chris Brendler reiterated the Buy rating on the stock, raising the price forecast from $10.50 to $12.
Brendler said TeraWulf’s HPC hosting deals with Fluidstack and Google’s 14% stake are transformational, making it a top U.S. HPC data center provider with a stronger financial profile.
The analyst noted Fluidstack has already exercised its option for another 160 MW set to go online in 2H26, boosting earnings estimates.
Along with a successful convertible offering that funds the required capital expenditures, Brendler believes TeraWulf now merits a premium valuation.
Brendler stated that TeraWulf’s recent achievements are transformational, positioning it as a leading U.S. HPC data center provider.
WULF Price Action: TeraWulf shares were up 1.58% at $9.33 at the time of publication on Friday, according to Benzinga Pro data.
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