Covalis Acquires New Stake in TeraWulf
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 13 2026
0mins
Should l Buy WULF?
Source: Fool
- New Investment Disclosure: Covalis (Gibraltar) Ltd disclosed a new position of 939,911 shares in TeraWulf, valued at $10.80 million during Q4 2026, indicating strong confidence in the company's growth prospects.
- Asset Management Proportion: This investment represents 15% of Covalis's reportable assets, highlighting its strategic positioning in the digital asset space, particularly in bitcoin mining and high-performance computing infrastructure.
- Outstanding Market Performance: TeraWulf's stock surged 350% over the past year to $14.67, significantly outperforming the S&P 500's 20% gain, reflecting positive market sentiment towards its ongoing transformation.
- Infrastructure Expansion: In 2025, TeraWulf secured long-term data center lease agreements totaling 522 megawatts, expected to generate over $12.8 billion in contracted revenue, showcasing its robust growth potential in high-performance computing infrastructure development.
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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: 14.890
Low
17.00
Averages
21.93
High
26.00
Current: 14.890
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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- Company Announcement: MARA Holdings announced the sale of $1.1 billion worth of Bitcoin.
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- Market Reaction: Following the announcement, shares of MARA Holdings experienced a significant spike.
- Strategic Shift: The move indicates a strategic shift for MARA Holdings towards integrating AI technology into its operations.
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Market Trends: Several cryptocurrency mining stocks, including BMNR, IREN, WULF, CIFR, and HUT, saw gains in pre-market trading, while Bitcoin remained stable above $71,000, providing a solid backdrop for retail sentiment.
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.
Future Projections: Analysts predict that AI infrastructure companies will see their revenues triple over the next two years, as they compete for electricity resources and offer higher returns compared to Bitcoin mining.
See More
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Company Announcement: TerraWulf's Director Paul Prager plans to sell 491.7K shares of its common stock.
Market Value: The total market value of the shares being sold is approximately $7.96 million.
See More
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- Market Transformation Trend: As Bitcoin prices decline, mining companies like Cipher Digital and TeraWulf are pivoting to AI infrastructure, indicating a rising demand for AI and a significant increase in investor interest towards these transitioning firms.
- Shifting Investor Preferences: Morgan Stanley has recently initiated coverage of the Bitcoin mining sector, focusing on companies transitioning to AI, giving 'overweight' ratings to Cipher Digital and TeraWulf while being 'underweight' on MARA Holdings, reflecting market recognition of AI's potential.
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- Future Earnings Expectations: Morgan Stanley projects Cipher Digital's stock could reach $38 and TeraWulf's could hit $37, indicating that investments in these companies within the AI sector could yield 2x to 3x returns, significantly surpassing current Bitcoin investment returns.
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