TeraWulf has two potential catalysts in the coming months. Anthropic's S-1 filing should reassure investors about TeraWulf's heavy customer concentration in Anthropic. A lease at Muskie, its other Kentucky site marketing 500MW of gross power for second-half 2028 delivery, would almost certainly diversify its customer base and add $600MM+ of contracted average annual NOI, over 50% growth on the existing $1.2B+. x.com 

TeraWulf should break all-time highs now on its Anthropic news, after neocloud stocks fell 30-50%. x.com 

TeraWulf's reported $20 billion lease with Anthropic and roughly 3 gigawatts of compute capacity look like barely hidden fraud for a formerly bankrupt company now competing with Meta on capacity. x.com  x.com 

Wells Fargo's estimate for TeraWulf's pipeline sites looks light, and management can be trusted to convert them. Wells initiated at Overweight with a $30 target, about $15 a share from contracted leases and $15 from probability-weighted pipeline. It models ~$3.8B of 2030 run-rate NOI versus a ~$1.5B signed book from Anthropic, Fluidstack and Core42, with ~$2B across Muskie, Hawkeye and Morgantown. Per @PSInvestor, the target is 2x from here if pipeline converts; watch the first Muskie lease. … Show more

TeraWulf's completed data centers could make later campuses easier to fund if delivery experience improves costs, contingencies or financing terms. Leases precede rent, so tenant acceptance, cash-rent dates and final costs must be checked against budgets. Cash available after lender obligations and owner capital per megawatt on the next campus will show whether shareholders gain more than another site; major tenant wins alone do not prove that improvement. x.com 

TeraWulf rushed to sell more shares right after breaking out above $20, despite a first-quarter miss. It is offering $800 million of common stock, plus up to $120 million more for underwriters, to help fund a data center in Hawesville, Kentucky. Preliminary Q1 revenue of $30-35 million fell short of the $39.17 million consensus, with adjusted EBITDA of just $0-3 million. x.com 

TeraWulf's pivot from bitcoin mining to AI compute is drawing financing and analyst support after a reported $19B AI data-center lease with Anthropic. Per Bloomberg, citing CFO Patrick Fleury, it plans about $3.5B of leveraged loans and high-yield bonds, run by Morgan Stanley, to build the Kentucky campus under a 20-year Anthropic lease. Rosenblatt and Bernstein raised targets, with Bernstein seeing up to 70% upside. It must hold above $24.50 to keep its reclaim alive. x.com  x.com 

Energy stocks are set to create generational wealth this year, and Vistra, Bloom Energy, Oklo, Cipher Mining and TeraWulf could each 10x. Vistra runs a 44 GW fleet with nuclear power deals with Meta and Cogentrix gas expansion. Bloom Energy's revenue rose 91% to $3.11B on fuel cells for data centers, with $3.9-4.2B guided for 2026. Oklo is a pre-revenue SMR developer with $2.47B of cash. Cipher Mining and TeraWulf are pivoting bitcoin mining sites to AI and HPC hosting on cheap power. x.com  … Show more

TeraWulf stands out among bitcoin miners pivoting to AI data centers because its massive 20-year Anthropic deal gives it real legitimacy, and some capacity is already energized, moving it beyond pure hype. Plenty of execution and buildout risk remains before that partnership produces, and the chart is losing its uptrend line, suggesting more short-term chop. Long term, it should do well if the buildout goes well and the AI revolution is real. x.com 

TeraWulf is a play on the AI capacity shortage, as big AI companies and labs race to lock in capacity years ahead. It builds power-backed AI data centers, and Anthropic signed a 20-year deal with it for 401MW. AI cloud backlogs have surpassed $150B, and one provider said it could sell out its 2027 capacity at today's terms. x.com