TeraWulf (WULF) Q3 Revenue Reaches $50.6 Million Amid Self-Mined Bitcoin Decline, Citizens Maintains Market Outperform Rating

Core Insights - TeraWulf Inc. (NASDAQ:WULF) is identified as one of the best short squeeze stocks to consider for investment, with Citizens reaffirming a Market Outperform rating and a price target of $22 following the third-quarter 2025 earnings report [1] Financial Performance - TeraWulf reported a larger-than-expected loss in Q3 2025, with earnings per share at -$1.13 compared to the anticipated -$0.05, despite a 6% quarter-over-quarter growth in GAAP revenues to $50.6 million [2] - The company's profitability was negatively affected by a 22% decline in self-mined Bitcoins from the previous quarter [2] - TeraWulf plans to enhance its high-performance computing (HPC) capacity by 250–500 megawatts annually [2] Company Evolution - Citizens noted that TeraWulf has transitioned from a "highly-speculative operation" to a company with a clear path to rapidly utilizing the capacity of its two initial sites, supported by new anchor tenant clients demonstrating reliability [3] - TeraWulf specializes in developing, owning, and operating industrial-scale data center infrastructure in the US, specifically designed for Bitcoin mining and HPC hosting [3]