TeraWulf Posts Modest 1.13% Gains as 300M Volume Plunge Drags Stock to 323rd Market Activity Rank Amid Bitcoin Mining Expansion and Debt Restructuring Moves

On September 12, 2025, , marking a modest reversal from recent volatility. , ranking it 323rd in market activity for the day. Analysts noted the decline in liquidity as a potential short-term headwind for momentum traders.

Recent developments highlighted TeraWulf's strategic focus on expanding its Bitcoin mining operations through the acquisition of additional S19j Pro miners. , . This move aligns with broader industry trends toward hardware upgrades amid rising energy efficiency demands.

Market participants also observed TeraWulf's renewed emphasis on debt restructuring, . While the proposal requires shareholder approval, the signal of improved capital structure management has been positively received by technical traders tracking ESG sentiment indicators.

To perform this study we need to carry out a cross-sectional portfolio back-test (we form a 500-stock basket every day and measure its next-day performance). At the moment, the in-house back-testing engine I can invoke from this interface is designed for single-ticker/event studies rather than multi-ticker, cross-sectional portfolios. To proceed we have two main options: 1. Narrow the scope so the existing engine can be used • For example, test the idea on one highly liquid ETF (e.g., SPY, QQQ) as a proxy, or on a single stock universe you specify. • Or restate the question as an event study on individual tickers and aggregate the results offline. 2. Keep the original broad brief, but I would need to export data and run a custom script outside this chat (which the current toolkit doesn’t support natively). Could you let me know which path you’d like to take—or if you’d like to adjust any details (market, trade-execution assumption, transaction costs, weighting method, etc.)?