Investment banking company Keefe, Bruyette & Woods upgrades Bitcoin miner TeraWulf to “outperform,” citing potential business mix shift not fully priced in by investors. TeraWulf shares trade at $11.46, up 2.8% in 24 hours, while MARA Holdings falls 2.4% and Riot Platforms rises 0.8%.

KBW sees TeraWulf’s joint AI-HPC strategy driving operating profitability, estimating a +505% EBITDA CAGR from 2025-2027. TeraWulf recently secured a $3.2 billion deal for data center expansion and three lease agreements with Fluidstack totaling $6.7 billion. BTC price stands at $87,625, up 3% in the last 30 days.

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Bitcoin hits new all-time high above $62,000 as demand surges. The cryptocurrency has more than doubled in value so far this year, with increased institutional interest driving prices higher. Market cap now exceeds $1 trillion, making it the ninth most valuable asset globally.

Ethereum breaks $2,100 for the first time as DeFi boom continues. The second-largest cryptocurrency by market cap has seen a significant uptrend in recent weeks, with decentralized finance (DeFi) protocols gaining popularity. Ethereum’s market cap now stands at over $240 billion.

Tesla announces plans to accept Bitcoin as payment for its products. CEO Elon Musk revealed that customers will soon be able to purchase Tesla vehicles using Bitcoin, a move that further legitimizes the cryptocurrency as a means of payment. The company also invested $1.5 billion in Bitcoin earlier this year.

Federal Reserve Chair Jerome Powell signals no plans to ban Bitcoin. In a recent interview, Powell stated that Bitcoin is a speculative asset like gold, emphasizing the need for regulation rather than prohibition. His comments come amid growing interest in cryptocurrencies from both retail and institutional investors.: US bank Upgrades TeraWulf Price Target, Offers Bullish Mining Prediction