Terawulf (WULF) Stock Forecast & Price Target

TeraWulf Inc has demonstrated notable improvement in its financial performance, as evidenced by a significant rise in Adjusted EBITDA to $18.1 million, greatly exceeding previous estimates and bolstered by the initial contributions from high-performance computing (HPC) operations. The company's strategic pivot to increase its annual HPC signing goal to a range of 250-500 MW showcases its ability to capitalize on growing demand from hyperscalers and AI workloads, indicating a robust expansion of its service offerings. Additionally, with a newly disclosed power pipeline exceeding 1 GW and ongoing operational enhancements at the Lake Mariner facility, TeraWulf is well-positioned to achieve accelerated growth and improve its margins more rapidly than previously anticipated.

TeraWulf Inc. is facing a negative outlook due to a projected 36% decline in bitcoin mining activity, with Q4'25 expected to yield only 278 bitcoins compared to a previously estimated 377. The mining revenue for Q3'25 fell short of estimates at $43.4 million, partially mitigated by increased high-performance computing (HPC) revenues, indicating reliance on alternative income sources amid declining core operations. Furthermore, the company's operational efficiency has been hindered by reduced uptime at 70% and an average operating hashrate significantly below expectations, which raises concerns about profitability amidst the fluctuations in energy prices and regulatory uncertainties.