Citadel takes 5.4% stake in TeraWulf for market-making purposes

Global investment firm Citadel disclosed a 5.4% passive stake in TeraWulf (NASDAQ: WULF) as of December 1, 2025, according to an SEC filing. Citadel reported an aggregate beneficial ownership of 22.7 million shares in the bitcoin mining and AI infrastructure company. The firm disclosed that it holds the bulk of its allocation via its capital markets arm, Citadel Securities, and its affiliates which uses the firm’s own capital to manage market-making inventory. By contrast, the firm’s hedge fund arm, Cit ...