Northland analyst Mike Grondahl raised the firm’s price target on TeraWulf (WULF) to $23.25 from $18.25 and keeps an Outperform rating on the shares after the company announced a new 168 MW lease to Fluidstack and Google (GOOGL) at a Texas site, with rights to Google’s next lease at the Texas site and exclusive rights to Fluidstack and Google’s next lease at a new, incremental site. The firm believes this deal highlights TeraWulf’s “deep understanding of what Google is looking for,” the analyst tells investors.
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