Covalis Establishes New Position in TeraWulf
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 13 2026
0mins
Should l Buy WULF?
Source: NASDAQ.COM
- Stake Acquisition: Covalis (Gibraltar) Ltd opened a new position in TeraWulf during Q4 2025, acquiring 939,911 shares valued at $10.80 million, indicating strong confidence in the company's future prospects.
- Significant Asset Proportion: This new stake accounts for 15% of Covalis's reported 13F assets, suggesting a deepening strategic commitment to the digital asset sector that may influence future investment decisions.
- Business Transformation: TeraWulf is repositioning itself from merely a bitcoin miner to a developer of large-scale high-performance computing infrastructure, having secured long-term data center lease agreements totaling 522 megawatts, expected to generate over $12.8 billion in contracted revenue.
- Improved Financial Performance: TeraWulf's total revenue reached approximately $168.5 million in 2025, with digital asset operations contributing $151.6 million, reflecting significant growth from 2024 and indicating a gradual path to profitability amid its ongoing transformation.
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Analyst Views on WULF
Wall Street analysts forecast WULF stock price to rise
11 Analyst Rating
11 Buy
0 Hold
0 Sell
Strong Buy
Current: 13.700
Low
17.00
Averages
21.93
High
26.00
Current: 13.700
Low
17.00
Averages
21.93
High
26.00
About WULF
TeraWulf Inc. develops, owns, and operates sustainable, industrial-scale data center infrastructure in the United States, purpose-built for high-performance computing (HPC) hosting and bitcoin mining. The Company has two operating segments: Digital Asset Mining and HPC Leasing. Digital Asset Mining consists of providing hash computation services to a mining pool operator. HPC Leasing consists of providing high-density colocation services to third parties for HPC operations. The Company’s primary operations are located at the Lake Mariner Campus, strategically located on the shores of Lake Ontario. The Company provides hash computation services to a mining pool operator, facilitating transaction validation of transactions on the global bitcoin network using its fleet of application-specific integrated circuit miners. It also has digital and power infrastructure portfolio located in brownfield infrastructure sites in Hawesville, Kentucky and Charles County, Maryland.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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Stock Performance: Mining companies like IREN and WULF experienced over 2% increases in pre-market trading, with retail sentiment around these stocks shifting from 'bearish' to 'neutral' territory.
Shift to AI: Mining companies are pivoting towards AI and high-performance computing due to declining profitability in Bitcoin mining, with operators reportedly losing about $16,800 per Bitcoin.
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Market Value: The total market value of the shares being sold is approximately $7.96 million.
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