Rothschild Redburn initiates TeraWulf at Neutral with $15 price target
- —TeraWulf's Q2 2026 revenue was $44.8 million, up from $34.0 million in Q1
- —HPC lease revenue hit $31.9 million, or 71% of quarterly revenue, up 52% quarter over quarter
- —A 20-year lease with Anthropic covers 401 MW in Kentucky and is valued at roughly $19 billion
- —Contracted pipeline stands at about 839 MW, with 250-500 MW of annual additions targeted
Why it matters: The rating sets a benchmark for investors in miners pivoting to AI infrastructure, where construction timelines are the key execution risk.
Source: Crypto Briefing