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Bitcoin Miner TeraWulf Sees Significant Rating Lift as Wall Street Reassesses Growth Potential
Investment analysts at Keefe, Bruyette & Woods have dramatically shifted their outlook on TeraWulf (WULF), elevating the Bitcoin miner's rating from 'market perform' to 'outperform' status. More impressively, the target stock price has been nearly tripled, moving from $9.5 to $24 per share.
The key driver behind this bullish reassessment lies in a strategic pivot that market participants have largely overlooked. The analysis reveals that investors have underestimated the magnitude of TeraWulf's transformation away from traditional BTC mining toward high-performance computing (HPC) leasing operations. This shift represents a fundamental change in the company's revenue model and growth trajectory.
The optimistic projection centers on the company's substantial HPC infrastructure expansion. KBW anticipates the Bitcoin miner operator will achieve a net capacity addition of 646 megawatts dedicated to HPC leasing by 2027. This infrastructure buildout is expected to drive significant earnings growth during 2026 and 2027, a period when the HPC leasing market is anticipated to experience robust demand.
The rating upgrade underscores a broader recognition that TeraWulf's diversification strategy positions it favorably as the data center and AI computing landscape continues to evolve. For investors monitoring mining companies adapting to changing market dynamics, this reassessment signals renewed confidence in the BTC miner's long-term value creation potential.