[Market Movement Analysis] TeraWulf surged on September 17: Wells Fargo optimistic + AI transformation

1. On September 17, Wells Fargo initiated coverage on TeraWulf with an “Overweight” rating and a target price of $30, noting that the company’s three tenants have a combined contracted capacity of 839 megawatts and emphasizing its brownfield development strategy.
2. On July 6, the company signed a 20-year lease agreement with Anthropic, under which approximately 401 megawatts of HPC critical IT load will be provided at the Hawesville, Kentucky data center, with phased delivery expected from late 2027 to early 2028.
3. On August 5, the company disclosed that as of the financial statement release date, the Lake Mariner data center had powered up 102 megawatts of HPC critical IT capacity; the company, through WULF Compute, is developing HPC leasing, hosting, cloud, and connectivity services, advancing its business expansion from Bitcoin mining to high-performance computing infrastructure.

(Disclaimer: This content is summarized from publicly available information collected using AI technology and is for reference only. It does not constitute investment advice.)