Avoid Bitcoin Miner TeraWulf Inc. [Seeking Alpha]
TeraWulf Inc. (WULF)
Company Research
Source: Seeking Alpha
In its first two full years of operations, the Company generated more cash from issuing stock than it did from operating revenue. The Company has substantial credit facilities coming due in 2024. Introduction I saw the following news headline on Seeking Alpha and decided to look under the hood of TeraWulf Inc. ( NASDAQ: WULF ) (the " Company TeraWulf stock surges over 20% after highlighting low-cost status, debt repayment" While I am mildly bullish to neutral on Bitcoin ( BTC-USD Bitcoin in the short-term , I have been increasingly cautious on several crypto miners, as noted in a recent article about Bitfarms Ltd. ( BITF ). Having reviewed the Company's most recent financial reporting materials, I am BEARISH on the Company for several reasons: First, the Company's stock soared in 2023 as shown in the chart below, and, in my view, a repeat of 2023's stellar performance is not likely, particularly if the Company cannot show a GAAP profit (and it is not close to doing that).
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WULF
News
- Bitcoin Miners May Shift Focus to AI After Halving, CoinShares Says [Yahoo! Finance]Yahoo! Finance
- Bitcoin miners TeraWulf, Bitdeer snag Buy ratings from Rosenblatt [Seeking Alpha]Seeking Alpha
- TeraWulf Inc. (NASDAQ: WULF) is now covered by analysts at Rosenblatt Securities. They set a "buy" rating and a $4.20 price target on the stock.MarketBeat
- TeraWulf Announces Continued Industry-Leading Cash Production and $30 Million Debt RepaymentGlobeNewswire
- TeraWulf Inc. (NASDAQ: WULF) had its price target lowered by analysts at B. Riley from $4.00 to $3.00. They now have a "buy" rating on the stock.MarketBeat
WULF
Earnings
- 11/13/23 - Miss
WULF
Sec Filings
- 4/17/24 - Form 8-K
- 4/8/24 - Form 8-K
- 4/5/24 - Form DEFA14A
- WULF's page on the SEC website