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TeraWulf stock fell about 14% with crypto and AI data center peers after the midterms, a day before its Q3 report. Here’s what analysts expect.
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Bernstein has maintained its Buy rating on TeraWulf (WULF) while adjusting its price target to $20.
TeraWulf has obtained credit support from Google to facilitate debt financing for its Justified data center campus in Kentucky, which features $19 billion in contracted lease commitments with Anthropic. Additionally, the company has signed a definitive engineering, procurement, and construction (EPC) agreement with Fluor for the development of three data center buildings at the site.
Filed: 2026-11-04 AccNo: 0001628280-26-069810 Size: 349 KB Item 1.01: Entry into a Material Definitive Agreement Item 7.01: Regulation FD Disclosure Item 8.01: Other Events Item 9.01: Financial Statements and Exhibits
The Nov. 3, 2026 midterm elections could significantly impact the stock market, particularly AI stocks. Historically, the S&P 500 gains an average of 15.1% in the 12 months following midterms. However, with 49% of the S&P 500 tied to AI, the outcome matters more than usual. AI companies' heavy borrowing for data center construction makes them sensitive to bond yields. The article suggests monitoring Treasury yields rather than stock price movements to gauge the true market impact.
Keefe Bruyette trimmed price targets for several Bitcoin mining companies, including TeraWulf, citing the need for increased valuation discipline in the AI hosting sector.