Morgan Stanley Starts Coverage on TeraWulf Inc. (WULF)

Core Insights - TeraWulf Inc. (NASDAQ:WULF) is recognized as one of the best Bitcoin and blockchain stocks to invest in, highlighting its strong position in the market [1][2]. Group 1: Company Developments - Morgan Stanley initiated coverage on TeraWulf Inc. on February 9, 2026, with an Overweight rating and a price target of $37, emphasizing the company's successful contract acquisitions and diverse power infrastructure assets [3]. - On February 3, 2026, TeraWulf announced the acquisition of two brownfield infrastructure sites in Hawesville, Kentucky, and Charles County, Maryland, which will increase the company's capacity by 1.5 gigawatts and enhance its electrical and digital infrastructure portfolio [4]. - The company operates fully integrated, eco-friendly bitcoin mining facilities in the U.S., utilizing nuclear, hydro, and solar energy for domestic bitcoin generation [6]. Group 2: Financial Performance - TeraWulf's revenue surged by 87% year-on-year to $50.6 million in the latest quarter, driven by increased mining capacity, higher average bitcoin prices, and the initiation of HPC lease revenue [5]. - The company ended the quarter with $712.8 million in cash, cash equivalents, and restricted cash, indicating a strong liquidity position [5]. - As of February 11, 2026, TeraWulf's stock has appreciated by 25.82% year-to-date, reflecting positive market sentiment [5].