TeraWulf shares rose 8% to $12.95 in afternoon trading after CEO Paul B. Prager wrote on X that demand for power “remains extremely strong,” that the company’s site is “energized” to meet it, and that shareholders would not be diluted. He said customers would likely need outside funding but TeraWulf would not take on that financial risk, and that the next data center building at Lake Mariner, leased to Fluidstack, is on track for delivery this quarter. Applied Digital rose 9% to $21.17 and IREN climbed 6% to $28.11, while the CoinShares Bitcoin Mining and Digital Power ETF gained 3% to $32.43 against a 0.6% rise in the SPDR S&P 500 ETF Trust. The article links the rally to power scarcity, including Elon Musk’s comment on the earnings call that the infrastructure to supply and cool electrical equipment is “somewhat of a limiting factor” for superintelligence. The next test for TeraWulf is whether the Lake Mariner building is delivered on schedule this quarter.
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