TeraWulf Spikes 7% as Digital Power Stocks Rebound; IREN Climbs 6%, Cipher Digital Rises 4%

A broad rebound is running through the digital power stocks. That rebound turned former crypto mining sites into artificial intelligence data centers, and TeraWulf (NASDAQ:WULF) is leading the charge. Shares of TeraWulf are rising 7% to $15.94 in morning trading as buyers return to the group. Also, shares of IREN (NASDAQ:IREN) are up 6% to $43.20 as the artificial intelligence cloud operator moves in step with TeraWulf.

Cipher Digital (NASDAQ:CIFR) stock is up 4% to $16.10, which extends the advance to a third data center developer with mining roots. Meanwhile, the CoinShares Bitcoin Mining and Digital Power ETF (NASDAQ:WGMI) is up 5% to $46.67. That’s a sign that the buying activity reaches across the whole basket of digital power names.

The SPDR S&P 500 ETF Trust (NYSEARCA:SPY) is up 0.95% to $771.27, giving the digital power rally a positive broad market background.

Sector Rebound Lifts Digital Power Names

TeraWulf hasn’t released a company announcement tied to the move, and the stock’s advance tracks a rebound running across the digital power group as a whole, with that pattern showing up in the CoinShares fund, which counts TeraWulf, IREN, and Cipher Digital among its holdings and is climbing alongside them. When a sector basket rises together with its members, the buying usually reflects a view on the whole group, and that’s the setup around TeraWulf stock.

Each company is chasing one shared shift. From IREN to Cipher Digital, they are leasing power capacity once used for crypto mining to artificial intelligence developers and cloud providers. At TeraWulf, that shift centers on a long-term lease with Anthropic, a privately held artificial intelligence developer, covering contracted computing capacity at the company’s campus in Kentucky. This agreement supports TeraWulf’s move from crypto mining toward artificial intelligence and high-performance computing hosting.

Kentucky Lease Sets TeraWulf Apart

TeraWulf stock is barely breaking even over the past week even with the latest gain included, so the advance repairs part of a recent slide and leaves the recovery somewhat uncertain. For TeraWulf, a sharp rally capping off a previously negative week mainly reflects sector mood, and a lasting change in its trend would need more follow-through to confirm. This volatile price action shows how quickly sentiment toward converted miners like TeraWulf can swing.

What separates TeraWulf from IREN and Cipher Digital is the contracted capacity tied to the Anthropic lease in Kentucky. That contract gives TeraWulf a long-dated revenue anchor, yet it also commits the company to a heavy construction program that depends on steady access to financing. Delivery timing at the Kentucky campus is central to how the market values TeraWulf stock.

Rothschild Redburn began coverage of TeraWulf stock at Neutral in late September, citing capital intensity and execution risk. The research firm coupled those concerns with a positive view of demand for generative artificial intelligence infrastructure, a balance that mirrors the wider debate over TeraWulf stock. The same expansion thesis drives the suppliers in our free report on seven companies powering the AI boom beyond the chipmakers.

What to Watch Next

TeraWulf’s financing plans for its Kentucky expansion may shape how the stock trades from here, since the value of the Anthropic contract depends on construction staying on schedule.

Whether TeraWulf can fund that program on terms that protect existing owners is worth watching. Progress reports from the company’s Kentucky campus could become the next company-specific catalyst for TeraWulf stock.

Contact [email protected] for any questions or corrections.