TeraWulf shares surge 20.39% intraday after announcing Q4 2025 earnings call on February 26.

think> Okay, let's tackle this query. The user wants me to act as a financial analyst explaining TeraWulf's stock price movement based on recent news. The stock went up 20.39% intraday. I need to check the provided news events to see what caused this. First, looking at the news, there are multiple entries about TeraWulf scheduling an earnings call on February 26, 2026. The other news includes details about a $3.2B senior secured notes offering, analyst ratings, and some negative sentiments about leverage risks. But the user's input specifies that the stock movement is intraday, so the relevant news should be from around that day. Wait, the earnings call is scheduled for February 26, but the stock performance is noted as intraday on the same day the news was released? The news about the earnings call was announced on February 6, 2026. However, the stock movement mentioned here is intraday, which might refer to the day of the news announcement. But the user's input might have a typo since the date in the news is February 6, but the stock movement is intraday. Let me check again. The user's input says "Stock Performance: TeraWulf盘中 intraday up 20.38590604%". The recent news events include the earnings call scheduled for February 26, but the news about the $3.2B offering seems to be from October 14, 2025. However, the dates in the news events are from February 6, 2026, which is after the stock movement's date. Wait, this is confusing. The user might have mixed up dates. The stock movement is intraday, and the relevant news should be from the same day or shortly before. The earnings call announcement was on February 6, 2026, but the stock movement is intraday on that day. However, the news about the $3.2B offering is from October 14, 2025, which is months prior. Wait, looking at the input again, the user provided multiple reasons, but the first few are about the earnings call scheduled for February 26, 2026, announced on February 6, 2026. The other reasons include a news article from MarketBeat on January 26, 2026, which says the stock was down 6.5%, but the current movement is up. However, the latest news in the input is from Reason 6, which mentions a proposed $3.2B offering and positive analyst ratings. The date on that news is October 14, 2025, but the stock movement is in February 2026. That seems inconsistent. Maybe there's a mistake in the dates. Assuming that the stock movement is on February 6, 2026, when the earnings call was announced, but the news about the $3.2B offering is from October 2025. However, the user's input includes multiple news events, some of which might be recent. The key is to find which news event caused the intraday spike. The earnings call announcement is on February 6, 2026, and the stock moved up intraday on that day. But the earnings call is scheduled for February 26. So the announcement of the earnings call on February 6 would be the trigger. However, the stock movement is a 20% jump, which is significant. But the earnings call is just an announcement of when they'll release results, not the results themselves. So maybe there's another factor. Looking at Reason 6, there's a news article from MarketBeat on January 26, 2026, stating the stock was down 6.5%, but the current movement is up. Then, in Reason 6, there's a news article from October 14, 2025, about a $3.2B offering. However, the stock movement is in February 2026. This seems like a time mismatch. Maybe the user made a mistake in the dates. Alternatively, perhaps the recent news events are all from February 6, 2026, and the stock movement is on that day. The main relevant news here is the announcement of the earnings call on February 6, 2026, which is the same day as the stock movement. However, announcing an earnings call usually doesn't cause such a large jump unless there's more. But in the input, there's also a mention in Reason 6 about a proposed $3.2B offering and positive analyst ratings. However, the date on that news is October 14, 2025, which is months.