Aron

[Wall St Engine @wallstengine]

William Blair initiates $WULF at Outperform, with $31 base-case fair value. TeraWulf has transformed into a leveraged power provider for Anthropic, Google and other hyperscalers, with further upside possible as backlog converts into contracted revenue.

[TeraWulf @TeraWulfInc]

TeraWulf is powering what's next.
$WULF

[*Walter Bloomberg @DeItaone]

ANTHROPIC EYES $30 TRILLION AI MARKET

Anthropic is expected to tell IPO investors its total addressable market exceeds $30 trillion, potentially surpassing SpaceX’s $28.5 trillion estimate.

The Claude maker is reportedly considering raising up to $100 billion at a valuation near $2 trillion.

Anthropic’s quarterly revenue more than doubled to $11.6 billion, while IPO filings are expected within weeks, potentially setting up a September or early October listing.

[TeraWulf @TeraWulfInc]

The AI conversation is moving from what’s possible to what it takes to deliver at scale.

In a new Investment Reports feature, "Beyond the Breakthrough: AI’s Real Impact," $WULF's @PaulBPrager discusses two increasingly important realities for AI infrastructure: access to power and the ability to execute...

[Small Cap Snipa @SmallCapSnipa]

MORGAN STANLEY: “IT IS LIKELY THAT $WULF WILL SIGN MUSKIE BY OCTOBER”

In my conversation with TeraWulf CEO Paul Prager, he told me that Muskie is the most active data from the company has ever had

MS: Using our ~$11.50/watt value creation present value for WULF in our base case (below where WULF deals have actually been signed), a 800 MW IT Muskie transaction would translate to $14.75 of value creation using our base case assumptions.

[Chill Banker @ChillBanking]

Morgan Stanley: $WULF $62.50 PT

“In our view, it is likely that WULF will sign Muskie by October…If we used the bear case assumption and increased our discount rate by 50%, this additional contract would add $8/share of net present value.”

[Blockspace @blockspace]

$WULF: KENTUCKY PSC APPROVES 482 MW POWER AGREEMENT FOR TERAWULF’S JUSTIFIED DATA CENTER CAMPUS

The site where Anthropic will lease 400 MW over 20-years for $19 billion

[TeraWulf @TeraWulfInc]

$WULF's approach is earning confidence locally 👇

Hancock County Judge-Executive Johnny Roberts, on TeraWulf’s development of the Justified Data Campus:
“They have earned my confidence through their actions, and we are excited about the opportunity to welcome them into our community.”

Roberts also cited TeraWulf’s “character, transparency, and commitment” as a model Kentucky should encourage for other data center projects #TheWULFWay 🐺

Source: https://t.co/T8RGNUpqMB

[Daniel S @accounting_ds]

Always important to remember the success of a business has no direct correlation to stock price

Market is always moving with hundreds of variables that affect its daily movements

Huge congratulations to $WULF and the team, executing at a very high level 👏

[Aron @aron65]

@cryptomiami1 @PaulBPrager @TeraWulfInc Indeed.

[CryptoMiami @cryptomiami1]

Not a single powered shell developer has a clearer thesis of their strengths, best and most transparent communication; most experienced C-suite, and greatest history of execution than @PaulBPrager and @TeraWulfInc ! $WULF

[Small Cap Snipa @SmallCapSnipa]

Kentucky PSC approves $WULF 482 MW power agreement for the Justified data center campus

Based on expected development costs of $10–$12 million per MW of critical IT load, TeraWulf estimates $4 to $4.5 billion investment in site development and initial data halls

[TeraWulf @TeraWulfInc]

“Power is the gating factor for AI infrastructure, but how you bring that power to market matters.”
- @PaulBPrager, CEO

Read the full announcement 👇
https://t.co/6oMfWxJgu5

[TeraWulf @TeraWulfInc]

Justified also demonstrates the value of reusing existing industrial infrastructure.

The campus is being developed at the former Century Aluminum Hawesville facility, where approximately 482 MW of existing transmission capability remains available.

[TeraWulf @TeraWulfInc]

The PSC found that the agreement provides adequate protections for existing customers, appropriately allocates financial and operational risks, and establishes rates that are “fair, just and reasonable.”

That distinction matters as AI power demand continues to grow.

[Perry Lin @perry_lin1]

$WULF https://t.co/FX3W1gRokD

[TeraWulf @TeraWulfInc]

A major milestone for $WULF in Kentucky 🐺

The Kentucky PSC has approved the power agreement supporting up to 482 MW at our Justified Data Campus in Hancock County.

More importantly, the decision validates how responsible large-scale data infrastructure can be developed 👇

[Brad Davidoff @brad_D6]

Take two aspirin then do this:
1) run analysis on $WULF’s recent deal with Anthropic and run the yield to cost. Easy to do with help of AI. Then compare that YTC to data center cap rates to determine equity value creation.
2) Do the same with WULF’s other existing contracts.
You’ll soon realize how de-risked you are relative to the current stock price.
3) Listen to @SmallCapSnipa podcast with Paul Prager and @power_analys1s podcast with Patrick Fleury
You’ll then understand how experienced this team is and why their brownfield strategy presents a good risk/reward framework
Then ask yourself can WULF bring other sites in their pipeline like Muskie online? If they can, there’s your alpha! All of a sudden that 4.3 beta will be working in your favor!

[Small Cap Snipa @SmallCapSnipa]

🚨 DATA CENTER WATER USE IS MASSIVELY MISUNDERSTOOD

From my conversation with $WULF CEO Paul Prager:

Day one at their Lake Mariner facility (600MW AI data center) they filled the closed-loop system with 10,000 gallons of water.

Since then, the site has only needed single-digit gallons of top-off.

That’s less than the average U.S. swimming pool, which holds 15-20k gallons. The media narrative around data center water use is very disconnected from how modern closed-loop systems actually work.

[Josh Bryant @joshstrength]

I keep hearing old hardcore gyms were welcoming communities where everyone helped you.

Where the hell were these gyms?

Mine had scary bastards smoking cigarettes, eating chicken and reading Penthouse between sets.

Then one asked YOU for a spot.

That was your acceptance letter.