TeraWulf Stock Tumbles 6.4% Amid $940M Volume Drop to 86th Market Rank

On August 19, 2025, TeraWulf (WULF) traded at $8.78, a 6.40% decline from its previous close, with a trading volume of $940 million—a 41.12% drop from the prior day—ranking 86th in market activity. The stock’s recent volatility reflects mixed investor sentiment following a series of strategic developments.

The company has expanded its partnership with Fluidstack, securing a 160 MW additional power contract at the Lake Mariner campus in New York, building on an initial 200 MW agreement. This expansion could generate $16 billion in revenue for TeraWulf if Fluidstack exercises lease extensions. Google also announced a $3.2 billion investment in TeraWulf, acquiring warrants for 32.5 million shares, or 14% pro-forma equity, to support the project. CEO Paul Prager emphasized the strategic alignment with Google as a key financial partner for AI infrastructure development.

Recent market activity has been influenced by TeraWulf’s $850 million convertible note offering, upsized from an initial $400 million, to fund data center expansion. While the deal underscores confidence in long-term growth, the stock faced downward pressure as investors digested the capital raise. Analysts have maintained varied price targets, with some raising estimates amid the partnership announcements, though near-term volatility remains elevated due to the company’s high debt load and operational risks.

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