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Small-Cap Crypto Stars: TeraWulf, Hut 8 Surge Over 40% YTD
WULFTeraWulf (WULF) Benzinga·2024-07-18 19:06

Core Insights - TeraWulf has achieved a significant 128.75% year-to-date gain and eliminated all outstanding debt, with a current market capitalization of 1.83billion[2][13]Hut8hasalsoshownstrongperformancewitha40.781.83 billion [2][13] - Hut 8 has also shown strong performance with a 40.78% year-to-date return and a market cap of 1.80 billion, driven by a partnership-driven strategy [4][11] - Both companies are positioned as key players in the small-cap crypto mining sector, highlighting their growth potential and strategic initiatives [15] TeraWulf - The company is committed to sustainability, operating vertically integrated bitcoin mining facilities powered by 95% zero-carbon energy [8] - TeraWulf plans to expand its operational infrastructure capacity from 210 MW to 295 MW, with potential for an additional 300 MW in the near term [8] - The elimination of debt enhances TeraWulf's financial flexibility, allowing for scaling operations and deploying low-cost energy infrastructure for Bitcoin mining and AI applications [10] Hut 8 - Hut 8's strategic focus on energy partnerships has allowed it to expand its energy infrastructure platform to approximately 1.3 gigawatts of capacity [5] - The company recently secured a power purchase agreement in Texas, granting exclusive access to 205 megawatts of power capacity [14] - Hut 8's innovative growth solutions and focus on high-density compute applications, including Bitcoin mining and AI, position it well for future success [7]