TeraWulf Surges 5.69% on $850M Financing and AI Expansion Ranks 164th in $600M Trading Volume

On August 20, 2025, TeraWulf (WULF) surged 5.69% with a trading volume of $0.60 billion, ranking 164th in market activity. The stock’s performance followed the completion of an $850 million convertible senior notes offering, which will fund data center expansion and corporate initiatives. The issuance includes capped call transactions to limit potential dilution, a strategic move to balance capital growth with shareholder equity protection.

Recent business developments include a 10-year AI hosting agreement with Fluidstack for 200+ megawatts of capacity and a long-term ground lease at Cayuga to expand high-performance computing infrastructure. These agreements align with TeraWulf’s focus on scaling its AI hosting capabilities. Earlier in 2025, the company acquired Beowulf Electricity & Data, streamlining operations and enhancing its energy infrastructure. Such partnerships and restructuring efforts underscore its commitment to long-term growth in the computing sector.

Analyst ratings remain mixed, with KBW assigning a “Hold” and a $9.50 price target, while some firms like Roth MKM and Compass Point maintain “Buy” ratings. The stock’s technical indicators show strong momentum, though overbought conditions could trigger short-term volatility. Despite ongoing losses and lack of dividends, strategic partnerships and capital-raising activities have drawn investor optimism about future scalability.

The strategy of buying the top 500 stocks by daily trading volume and holding them for one day from 2022 to 2025 delivered a 0.98% average 1-day return. Over 365 days, the total return was 31.52%, reflecting moderate momentum capture amid market volatility and timing risks.