The authorization of a $200 million share repurchase program by TeraWulf's Board of Directors is a strong signal of the company's confidence in its financial health and business strategy. Share repurchase programs often lead to an increase in stock prices as they reduce the number of shares outstanding, potentially increasing earnings per share and indicating that the company believes its stock is undervalued. This action is likely to be viewed positively by investors, leading to a short-term positive impact on the stock price.