Terawulf Inc is trading 4.6% up at $27.70 in pre-market, extending a rally fueled by positive analyst actions and its strategic pivot to AI, while shrugging off local opposition to a new Kentucky data center.
- Analyst Bullishness: On June 3rd, the consensus 12-month price target for WULF was raised to $35.47, implying a 34% upside, following multiple target hikes in late May from firms like Jefferies, Oppenheimer, and B. Riley.
- AI Strategy Gains Traction: The rally is also supported by the company's successful pivot towards becoming an AI infrastructure operator, with its High-Performance Computing (HPC) leasing segment generating its first significant revenue in Q1 2026.
- Local Headwinds: The gains come despite recent and vocal community opposition in Boyd County, Kentucky, where residents at a June 1st town hall raised concerns about the environmental impact and lack of transparency regarding a planned large-scale data center.