Clear Street says transformative deals significantly improve TeraWulf visibility

After TeraWulf (WULF) announced a 200+ MW 10-year colocation agreement with Fluidstack at its Lake Mariner campus, anchored by Google’s (GOOGL) $1.8B backstop and equity stake and an 80-year ground lease at the Cayuga site in New York, Clear Street called the deals “transformative agreements that materially advance its position as a leading provider of hyperscale AI/HPC infrastructure.” Execution and funding are still “watch items,” but the firm believes these deals “significantly improve visibility on growth and profitability,” adds the analyst, who has a Buy rating and $9 price target on TeraWulf shares.