NEW YORK, July 5, 2026, 18:01 EDT
- TeraWulf shares dropped 10.18% to finish Thursday at $21.18. The stock last traded before markets closed for Independence Day.
- The stock lost ground for seven sessions in a row through July 2, dropping 26.4% from its June 23 close.
- Selling hit even as the Nasdaq Composite rose 2.1% during the holiday-shortened week.
- Monday brings a clear test for investors as AI-driven names try to regain footing after Meta’s reported cloud push rattled sentiment across neocloud stocks.
TeraWulf Inc NASDAQ:WULF 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.
Nasdaq Composite (INDEXNASDAQ:.IXIC) dropped 0.8% Thursday, even as it rose 2.1% for the week. S&P 500 ended the session unchanged. Dow finished at a record close, Reuters said.
| Asset or stock | Ticker | Last close | July 2 move | June 26-July 2 move |
|---|---|---|---|---|
| TeraWulf Inc | NASDAQ:WULF | $21.18 | fell 10.18% | dropped 18.0% |
| Riot Platforms Inc | NASDAQ:RIOT | $22.11 | slipped 7.72% | down 22.6% |
| MARA Holdings Inc | NASDAQ:MARA | $12.40 | was off 7.26% | lost 14.7% |
| IREN Ltd | NASDAQ:IREN | $38.82 | off 10.39% | down 17.8% |
| Cipher Digital Inc | NASDAQ:CIFR | $20.04 | fell 12.26% | dropped 22.7% |
| Nasdaq Composite | INDEXNASDAQ:.IXIC | 25,832.67 | slipped 0.80% | added 2.1% |
The four-day numbers compare each stock’s June 26 and July 2 closing prices. Riot and IREN prices are from StockAnalysis; MARA and Cipher use Investing.com. The Nasdaq’s weekly move is from Reuters.
Pressure isn’t limited to bitcoin. Bitcoin traded near $63,030 on Sunday, but TeraWulf stayed below all its closes since May 18. WULF is back in its spring range, away from the higher levels it hit in late June when investors chased its power and high-performance computing pitch.
Pressure on AI infrastructure stocks picked up last week after Reuters said Meta Platforms Inc NASDAQ:META is starting a cloud business to sell extra AI computing power. CoreWeave Inc NASDAQ:CRWV dropped 10.8%, and Nebius Group NV NASDAQ:NBIS lost 12.4% that day as investors worried about more supply and the risk that Meta could cut back on buying from outside firms.
“Adding Meta’s capacity will probably affect neoclouds more than the big hyperscalers,” Gil Luria, managing director at D.A. Davidson, told Reuters. “CoreWeave and Nebius depend on Meta for growth, but Meta might not need them now.” Reuters
TeraWulf isn’t trading like just another bitcoin miner anymore. High-performance computing lease revenue came in at $21.0 million in the first quarter, making up roughly 62% of the company’s total revenue. Digital asset revenue fell to $13.0 million from $34.4 million a year ago.
| TeraWulf Q1 2026 item | Amount | Investor read-through |
|---|---|---|
| Total revenue | $34.0 mln | Pretty much flat from $34.4 mln last year |
| HPC lease revenue | $21.0 mln | Makes up about 62% of overall revenue |
| Digital asset revenue | $13.0 mln | Fell from $34.4 mln last year |
| Cash and restricted cash at quarter-end | $3.09 bln | Supports expansion, though cash dropped from the start of the quarter |
| Net loss attributable to TeraWulf | $427.6 mln | Loss worked out to $1.01 a share |
TeraWulf said it finished March holding $3.09 billion in cash and restricted cash. Net loss attributable to TeraWulf was $427.6 million, or $1.01 per share.
TeraWulf CEO Paul Prager said in May the company had “60 megawatts of energized critical IT capacity for Core42” at Lake Mariner and is building for its next tenant, Fluidstack. CFO Patrick Fleury said the business should rely more on “recurring, contracted revenue” as it grows. TeraWulf Inc.
Kentucky is the long-term play here. TeraWulf on May 26 said it bought the Muskie Data Campus in eastern Kentucky, aiming for the site to handle more than 1 gigawatt eventually. Plans call for 500 megawatts to start in the back half of 2028 and the next 500 megawatts to go live in the second half of 2030. “The defining constraint in this market is no longer computing hardware — it is power, transmission infrastructure, and execution certainty,” Prager said. TeraWulf Inc.
TeraWulf’s investor-relations page didn’t have any new company announcements over the holiday break. The most recent posted press release is from May 26 about the Muskie acquisition. The latest current report from the company is a June 10 8-K detailing annual meeting voting results.
WULF opens the week still holding above Thursday’s low at $20.60, with the stock at $21.26 in after-hours on July 2. If it drops under that level, shares would be back to the zone seen before the Kentucky rally kicked off in late May.
