TeraWulf received an upgrade note from KBW.

KBW updated its market performance rating on TeraWulf to outperform. With this development, it raised the company's target price from $9.50 to $24.

In the bank's statement, it was noted that the rental activities in artificial intelligence (AI) and high-performance computing (HPC) would surpass Bitcoin mining, which is the company's main source of revenue.

Additionally, with the increase in rental revenues, rapid EBITDA growth and valuation increase are expected.