WULF - TeraWulf: Breakout Is Likely To Continue
2024-06-11 23:31:05 ET
Summary
- TeraWulf, a domestic bitcoin miner, has broken out of a multi-month trading pennant and is expected to move higher.
- The company operates Bitcoin mining facilities in New York and Pennsylvania, with plans to increase mining capacity.
- TeraWulf aims to become debt-free and reinvest its operating cash flow into Bitcoin mining and data centers for generative AI and complex computing.
TeraWulf ( WULF ) is a domestic bitcoin miner that owns and operates vertically integrated and environmentally clean facilities. The stock just broke out of a multi-month trading pennant that started late last year. Shares appear ready to move considerably higher over the summer, and especially if Bitcoin pricing can continue its upward trend in the second half of 2024. Further, WULF has a pilot program towards the development of data centers to capitalize on the growth in demand for locations to house the power-hungry processes of generative AI and related complex computing. As a result, I recently added exposure to WULF....
TeraWulf: Breakout Is Likely To Continue