TeraWulf received an upgrade note from KBW.

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

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

Additionally, a rapid EBITDA growth and valuation increase are expected with the rise in leasing revenues.