What's Going On With Bitcoin Miner TeraWulf Stock?
Portfolio Pulse from Erica Kollmann
TeraWulf Inc. (NASDAQ:WULF) shares have increased by over 21% in the past five days, correlating with Bitcoin's rise to near the $47,000 mark. The company reported mining 313 Bitcoin in January with an average production rate of over 10 Bitcoin per day and achieving 7.1 EH/s of self-mining. Despite a slight decrease in production from December due to various factors, TeraWulf expects to reach 7.9 EH/s of owned hashrate in early February.
February 09, 2024 | 5:07 pm
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TeraWulf Inc. shares have seen significant growth, over 21% in the past five days, as Bitcoin's price increases. The company's January production update shows strong performance despite slight decreases from December.
The positive performance of TeraWulf Inc. is directly tied to the increase in Bitcoin's price, as the company's main operation involves Bitcoin mining. The detailed production and operations update for January, showing a strong mining output and plans for increased hashrate, supports the potential for continued stock price growth in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100