TeraWulf Inc. (NASDAQ:WULF) saw a 16.52% surge on Monday, closing at $16.62 per share after Morgan Stanley issued an “overweight” rating with a $37 price target, citing a 123% upside potential. The company is transitioning to AI services from bitcoin mining, with earnings results scheduled for February 26.

TeraWulf recently acquired land in Kentucky and Maryland capable of hosting 1,480 MW of new digital and power capacity. The sites offer existing power and room for expansion, positioning the company for growth.

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Read more at Yahoo Finance: TeraWulf (WULF) Soars 16% After Morgan Stanley Posts Upbeat Rating