Terawulf (WULF) Loses 12.8% on AI Concerns, Bitcoin Fall

Group 1 - Terawulf Inc. (NASDAQ: WULF) experienced a significant decline of 12.84% on Monday, closing at $12.49, primarily due to falling Bitcoin prices and concerns regarding an AI bubble [1][3] - The price of Bitcoin decreased by 2.27% to $86,168, as traders took profits ahead of the Christmas holiday [1] - Investor sentiment was negatively impacted by Oracle Corporation's substantial debt of $108 billion related to AI investments, raising concerns about the tech giant's ability to recover its investments quickly [2][3] Group 2 - The mandatory conversion of Terawulf's preferred shares into common shares, effective December 9, resulted in the conversion of all convertible preferred shares into 141.9483 common shares [4] - The Chief Finance Officer of Terawulf stated that this mandatory conversion reinforces the company's financial discipline and allows for a focus on future growth [4][5] - The announcement of the conversion is viewed as a milestone in simplifying Terawulf's capital structure, supporting future growth and providing transparency to investors [5]