As the tech industry continues to evolve, companies like TeraWulf Inc. ( WULF ) are strategically positioning themselves to capitalize on emerging opportunities in high-performance computing. This shift is drawing significant attention from investors eager to participate in the expansion of data center capabilities.

TeraWulf ( WULF ) shares are trading slightly higher on Friday after the company announced in a regulatory filing on Wednesday that it had completed its previously announced $850 million private offering of convertible senior notes due 2031 on Aug. 20.

The total net proceeds from the offering were approximately $828.7 million. The company intends to use $85.5 million of the proceeds to pay the cost of capped call transactions. 

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Rosenblatt analyst Chris Brendler reiterated the Buy rating on the stock, raising the price forecast from $10.50 to $12.

Brendler said TeraWulf’s HPC hosting deals with Fluidstack and Google’s 14% stake are transformational, making it a top U.S. HPC data center provider with a stronger financial profile.

The analyst noted Fluidstack has already exercised its option for another 160 MW set to go online in 2H26, boosting earnings estimates.

Along with a successful convertible offering that funds the required capital expenditures, Brendler believes TeraWulf ( WULF ) now merits a premium valuation.

Brendler stated that TeraWulf’s recent achievements are transformational, positioning it as a leading U.S. HPC data center provider.

WULF Price Action: TeraWulf ( WULF ) shares were up 1.58% at $9.33 at the time of publication on Friday, according to Benzinga Pro data.

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