NEW YORK, Jan 3, 2026, 19:37 ET — Market closed
- WULF closed Friday at $12.74, up 10.9%, on about 26 million shares.
- Bitcoin hovered near $91,000, lifting mining peers including Marathon Digital, Riot Platforms and CleanSpark.
- SEC filings showed large restricted-stock awards to top TeraWulf executives dated Jan. 2.
TeraWulf Inc shares closed Friday up 10.9% at $12.74, one of the strongest moves among U.S.-listed crypto miners as 2026 trading got underway. About 26 million shares changed hands.
Bitcoin was last up about 1.3% near $91,216, supporting the broader miner complex. Marathon Digital rose about 10%, Riot Platforms gained about 12% and CleanSpark added about 14%.
The early-year bounce arrives as investors reassess risk appetite after a choppy end to 2025. U.S. stocks finished the first session of 2026 mixed, while cryptocurrencies advanced, as traders weighed the outlook for interest rates.
Company-specific filings also drew attention. Form 4 disclosures dated Jan. 2 showed CEO Paul Prager received 7.85 million restricted stock units and 3.92 million performance-based RSUs, while CFO Patrick Fleury and Chief Strategy Officer Kerri Langlais each reported grants of about 2.62 million RSUs plus performance awards; Chief Technology Officer Nazar Khan reported 6.54 million RSUs and 3.27 million performance-based RSUs, the filings showed. Two directors also reported taking small stock grants in lieu of cash retainers.
Restricted stock units are share awards that typically vest over time; the performance-based version vests only if targets are met. Investors track them because they can add to the share count when they convert into common stock.
TeraWulf develops and operates data-center infrastructure designed for bitcoin mining and high-performance computing, or HPC, workloads. Its Lake Mariner site in western New York has been marketed as a scalable campus that can expand with transmission upgrades, according to a Reuters company profile.
In a Dec. 29 filing, the company said a Fluidstack-linked joint venture completed a $1.3 billion private offering of 7.250% senior secured notes due 2030. The proceeds are intended to help fund construction of an HPC data-center campus in Abernathy, Texas, the filing showed.
TeraWulf said in December that the financing supports a 168-megawatt HPC compute project, with commissioning expected in the second half of 2026. “This financing represents another important step in scaling a platform that was designed from the outset to grow,” Prager said in a statement. TeraWulf Inc.
The stock’s sharp swings reflect the mix of narratives investors are trading: bitcoin prices drive near-term sentiment, while the HPC buildout is expected to underpin longer-term cash flow. That combination has made WULF a high-volatility proxy for both crypto and AI infrastructure bets.
Before the next session on Monday, traders will watch whether bitcoin can hold above the $90,000 level and whether broader risk appetite stays intact into a heavier macro calendar. The U.S. jobs report due Jan. 9 is one early test for rate-cut expectations in 2026, Reuters said.
TeraWulf’s investor calendar showed no scheduled events as of Saturday. Public.com lists Feb. 27 as the expected date of the next quarterly report and earnings call, though the company has not posted a formal date.
On the chart, the first support area sits near $11.49, the Dec. 31 close, after Friday’s range ran from $11.55 to $12.74. A move below $11.49 would unwind Friday’s gain, while a break above $12.74 would push the stock into the $13 area.
With markets shut through Sunday, the next catalysts for WULF are likely to come from crypto prices and any fresh updates on data-center construction and customer demand. Friday’s rally leaves the stock starting 2026 on firmer footing — and still highly sensitive to the next swing in bitcoin.
