TeraWulf Inc. (WULF)

TeraWulf is scaling revenue (~$168.06M TTM) but is still deeply unprofitable (TTM net margin -611.46%, EBITDA margin -453.11%) with negative free cash flow (FCF yield -13.92%). Liquidity is sizable (cash ~$2.83B at 2026-03-31), but leverage is high (total debt ~$5.31B) and equity is negative, with distress-style signals (Altman Z-Score 0.30; interest coverage -1.72; beta 4.26). The July 6, 2026 8-K announced a 20-year ~401 MW AI/HPC lease with Anthropic (rent starts late 2027) and a ~$530M JV stake sale that improves future visibility and near-term cash. Overall fundamentals remain speculative and execution/financing risk is elevated despite meaningful long-term catalysts.

Fresh announced catalyst on 2026-07-06 (Anthropic lease at Justified Data Campus plus sale of majority interest in the Abernathy JV to Fluidstack) is a bullish near-term driver; media sentiment over the last ~14d is mixed and the 30–90d sentiment delta is indeterminate due to a baseline-news tool error, while retail chatter spiked but engagement is concentrated in a single WSB thread. Red-Flag Screen clean.

WULF's chart improved on a news-driven surge, but the short-term trend stack is still conflicted: price is around the 50-day average and daily VWAP while remaining below the 20-day average and EMA21, and MACD is still negative. Strong liquidity and a well-above-200-day structure keep the chart from scoring lower, but ADX above 30 shows the prior downswing still has influence.