Clear Street positive on TeraWulf after Anthropic contract, Abernathy stake sale
Clear Street remains positive on TeraWulf following this morning's announcement of a 20-year Anthropic lease at the Justified Data campus in Hawesville, KY, and the sale of its 50.1% interest in the Abernathy joint venture to an investor group led by Fluidstack. The firm views the announcement as further validation of its thesis that TeraWulf can convert its multi-gigawatt pipeline into long-duration contracted revenue with high-quality counterparties. Clear Street has a Buy rating on TeraWulf with a price target of $36 on the shares.
Clear Street remains positive on TeraWulf following this morning's announcement of a 20-year Anthropic lease at the Justified Data campus in Hawesville, KY, and the sale of its 50.1% interest in the Abernathy joint venture to an investor group led by Fluidstack.
The firm views the announcement as further validation of its thesis that TeraWulf can convert its multi-gigawatt pipeline into long-duration contracted revenue with high-quality counterparties.
Clear Street has a Buy rating on TeraWulf with a price target of $36 on the shares.