Market cap
$7.74bn
Basic value at the live share price.
TeraWulf Shares Drop 5.7% After Company’s $3 Billion Cash Reserves Equal 336-Megawatt Expansion
TeraWulf Inc. dropped 5.7% on Friday as investors considered significant AI-infrastructure plans in relation to its capital needs. Shares were trading at $15.52 at 1:51 p.m. EDT while U.S. markets remained open.
NASDAQ: WULF • Capital bridge
336 MW under construction
The AI backlog is real. Financing and delivery decide the per-share value.
$15.52
▼ 5.68%
Aug. 21, 2026 • 13:51 EDT
Cash pool
~$3.0bn
Cash and restricted cash at June 30.
HPC revenue mix
71%
Q2 evidence that the business model has flipped.
Analyst target
$36.64
18 analysts; strong-buy consensus.
Capacity and implied development cost
The funding test
$3.02bn
Midpoint of the calculated build-cost range. It almost equals reported cash and restricted cash.
Cost per critical IT MW$8m–$10m
Build / current capacity3.3×
Project financingKey offset
Q2 business mix
$44.8m
Total revenue, down 6% year over year.
HPC leasing$31.9m
Bitcoin mining$12.8m
Dilution bridge
+18.8%
Outstanding-share growth from Dec. 31 to June 30.
Basic shares498.9m
MS fully diluted624.8m
Contract visibility
$19bn
Anthropic lease revenue over the initial 20-year term.
Contracted load401 MW
Initial deliveryH2 2027
Investor setup
Bull case: project debt limits equity burdenBear case: cost and schedule slippageConsensus: 13 Strong Buy / 5 Buy52-week range: $8.60–$29.84Watch: CB-4 rent commencement
The core question is no longer whether AI customers want capacity. It is how efficiently TeraWulf converts signed megawatts into revenue without surrendering the upside through capital costs.
TeraWulf Shares Face 12% Hurdle With 839-MW AI Pipeline as U.S. Markets Close
TeraWulf Inc. has secured contracts for 839 megawatts dedicated to AI and high-performance computing, with just 102 MW currently operational. The 12.2% rate of activation is now a main focus for the company’s shares.
TeraWulf Shares (NASDAQ:WULF) Decline Over the Week Amid 336-MW AI Expansion Scrutiny
TeraWulf Inc. closed Friday at $17.08, declining 3.0% during the session. Shares fell 3.3% over the week. The quarterly release redirected attention from headline losses to project execution.
TeraWulf (NASDAQ:WULF) Shares Decline as AI Leasing Drives 71% of Turnover
TeraWulf Inc. shares dropped 4.5% to $16.82 on Friday afternoon. The price was 10.9% lower than its close on August 4, prior to the results.
TeraWulf gains nearly 7% after Anthropic lease highlights 27% boost in revenue density
TeraWulf Inc. climbed roughly 7% on Monday after B. Riley Securities raised its price target to $40 from $32. Analyst Nick Giles maintained a Buy recommendation. The U.S. cash session had just ended, with consolidated closing data still being finalized.
TeraWulf Inc. (NASDAQ:WULF) rises above mining sector after receiving FERC approval for plant transfer
TeraWulf Inc. held a slide to 1.0% on Friday, outpacing wider losses in publicly traded mining and compute peers. The stock most recently changed hands at $17.66 after the close of the regular Nasdaq session. After-hours trading continued.
TeraWulf (NASDAQ:WULF) surges 18% after Maryland power agreement receives federal go-ahead
TeraWulf Inc. ended Thursday's session up 18.1% at $17.82 after receiving federal clearance for its acquisition of a Maryland power plant, providing a fresh catalyst for the stock.
TeraWulf (NASDAQ:WULF) drops 12% amid investor activity similar to AI sector moves
TeraWulf Inc. fell 11.9% to $15.05 in late trade on Wednesday. The stock hovered close to its session low ahead of the market close.
TeraWulf (NASDAQ:WULF) Stock Gains for Week; Anthropic Lease Implies 28% More Revenue per Megawatt
TeraWulf ended Friday at $18.46, down 7.9%. The stock still rose 1.7% from the prior Friday’s close.
TeraWulf (NASDAQ:WULF) Shares Drop Below April Offering Price Even After $19 Billion Anthropic Lease
NEW YORK, July 19, 2026, 11:08 EDT – TeraWulf shares slipped under the April offer price, despite the company recently announcing a $19 billion lease agreement with Anthropic.
TeraWulf (NASDAQ:WULF) Slides 17% as New York Risk Shadows a 77% Out-of-State Open Pipeline
TeraWulf Inc. closed Friday at $18.16, up 1.0%. The shares still lost 17.3% over the week. Regular U.S. trading had ended before publication.
TeraWulf slides 8% after Anthropic lease faces $3.5B funding check
TeraWulf Inc. dropped 8.1% to $19.20 by Tuesday afternoon, sinking as low as $18.63, even while tech stocks benefited from softer inflation numbers. Volume was heavy, with more than 36.7 million shares changing hands by 1:16 p.m., already topping its usual daily pace. The disconnect raises questions for investors over how much AI revenue will flow to equity once construction debt is paid off. That’s the issue in focus.
TeraWulf’s (NASDAQ:WULF) $19B Anthropic Deal Announced, but $3.5B Payment Raises Questions
TeraWulf Inc. finished Friday at $21.97, only a 3.7% gain from its July 2 close, after announcing a $19 billion, 20-year data-center lease with Anthropic. The stock fell 5.3% Friday. Traders are now less focused on the contract size and more concerned about build-out costs.
TeraWulf Drops 5% as $3.5B Debt Raises Pressure on $19B Anthropic Deal
TeraWulf Inc. shares fell 5.3% to finish at $21.97 on Friday. Investors are looking at the financing needs for its planned AI data center in Kentucky. The stock drop came after news broke that TeraWulf is looking to raise around $3.5 billion to fund the Anthropic-leased project.
TeraWulf $19B AI Lease Faces $3.5B Debt Check
TeraWulf Inc. traded higher Thursday after the company put a number on the cost of converting its $19 billion Anthropic lease into an operational AI campus: $3.5 billion in fresh debt.
TeraWulf Stock Jumps Again After Anthropic’s $19 Billion AI Bet — Here’s What Moved It
TeraWulf Inc. shares jumped on Wednesday, leading a mixed U.S. tape, as investors returned to the bitcoin miner-turned-digital infrastructure firm after its long-term lease with Anthropic reset the market’s view of its AI data-center business. The stock closed at $22.83, up 12.8%, and was quoted at $23.22 after hours at 5:01 p.m. in New York.
Anthropic’s $19B TeraWulf (NASDAQ:WULF) lease throws cost of compute into AI IPO mix
Anthropic put a price on its AI expansion Monday, signing a 20-year, $19 billion lease with TeraWulf Inc. for 401 MW of compute power in Kentucky. The agreement gives investors an early look at what a leading AI lab is spending, ahead of Anthropic’s IPO filing.
Nasdaq climbs as AI trading contracts offset Dow weakness
U.S. stocks traded mixed Monday. Traders picked up AI supply-chain and data-center stocks, but the Dow was behind. The main New York Stock Exchange session goes from 9:30 a.m. to 4:00 p.m. ET. U.S. equity markets were shut July 3 for the Independence Day holiday.
TeraWulf (NASDAQ:WULF) says Anthropic power deal outpaces recent data-center lease rates
TeraWulf Inc. has signed a 20-year lease with Anthropic for its Justified Data campus in Hawesville, Kentucky. The deal sets a new public benchmark for AI data-center space at roughly $2.37 million per MW per year, not counting renewals or any pass-through items.
TeraWulf heads into July 6 after shares drop 26% as AI data-center trade falters
TeraWulf Inc is under more pressure than the daily chart suggests. Shares finished down 10.18% at $21.18 on Thursday, the last regular session before the Independence Day break. The stock has now lost 26.4% over seven consecutive losing sessions since closing at $28.78 on June 23. Nasdaq’s holiday calendar for 2026 lists July 3 as a closure for Independence Day observed.
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