TeraWulf Ditches Bitcoin Chaos For AI Power Gold Rush

TeraWulf Inc. (NASDAQ:WULF) CEO Paul Prager outlined how the company is repositioning itself as an AI infrastructure player, emphasizing long-term contracts, energy capabilities, and early-stage market opportunities.

Shift From Bitcoin Mining To AI Infrastructure

The CEO told CNBC on Tuesday that TeraWulf had moved away from bitcoin mining due to its volatility and unpredictable revenue, and had repositioned the business around energy infrastructure.

He explained that the company now applies the same model to AI data centers—securing long-term offtake agreements, financing efficiently, and building facilities for high-performance computing customers like Alphabet Inc. (NASDAQ:GOOGL) Google.

He added that TeraWulf plans to replicate this model repeatedly to meet growing demand for power and AI infrastructure.

Early-Stage AI Buildout With Long-Term Visibility

The CEO described the AI data center market as still in its early stages, driven by long-term contracts that typically span 15 years with options extending to 25 years.

He noted that geopolitical tensions and commodity volatility have had only a limited impact on the business because demand for compute power—and the energy required to support it—remains strong.

He said the company is focused on securing scalable sites, signing long-term customers, and expanding across locations, including Kentucky, New York, Texas, and Maryland.

Power Strategy And ‘Bring Your Own Generation' Model

The CEO said the market is shifting toward a "bring your own generation" approach, as regulators and governments push data centers to avoid increasing electricity costs for consumers.

He explained that TeraWulf is leveraging its background in building and operating power assets to meet this requirement.

At its Maryland site, the company committed to generating its own electricity to supply its data center while also contributing excess power back to the grid, aligning with how the broader market is evolving.

Technical Analysis

WULF is trading 5.6% above its 20-day simple moving average (SMA) and 15% above its 100-day SMA, keeping the broader uptrend intact despite the premarket dip. Shares are up 479.38% over the past 12 months and are currently positioned closer to their 52-week highs than lows.

The RSI is at 57.99, in neutral territory, suggesting momentum is positive but not stretched. Meanwhile, MACD is bullish with the MACD line at 0.2764 above the signal line at 0.1558, reinforcing that the intermediate trend is still pointed higher.

The combination of RSI above 50 (57.99) and a bullish MACD (0.2764 over 0.1558) suggests mixed momentum, with trend support still favorable but not in a "hot" overbought state.

• Key Resistance: $18.00
• Key Support: $14.50

Earnings & Analyst Outlook

Looking further out, the next major catalyst for the stock arrives with the May 8, 2026 (estimated) earnings report.

• EPS Estimate: Loss of 18 cents (Down from a loss of 16 cents YoY)
• Revenue Estimate: $39.80 million (Up from $34.41 million YoY)
• Valuation: P/E ratio not meaningful (company is not currently profitable)

Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price target of $17.07. Recent analyst moves include:

• Rosenblatt: Buy (Maintains Target to $23.00) (Mar. 19)
• Keefe, Bruyette & Woods: Outperform (Lowers Target to $23.00) (Mar. 11)
• Rosenblatt: Buy (Raises Target to $23.00) (Feb. 27)

Top ETF Exposure

• Amplify Blockchain Technology ETF (NYSE:BLOK): 3.60% Weight
• Bitwise Crypto Industry Innovators ETF (NYSE:BITQ): 5.12% Weight
• Global X Blockchain ETF (NASDAQ:BKCH): 6.13% Weight

Significance: Because WULF carries significant weight in these funds, any significant inflows or outflows will likely trigger automatic buying or selling of the stock.

Price Action

WULF Price Action: TeraWulf shares were trading at $16.43 at the time of publication on Thursday, according to Benzinga Pro data.

Photo by Piotr Swat via Shutterstock