Investment bank KBW upgrades TeraWulf mining company rating and raises target price to $24

PANews, January 1st – According to Cointelegraph, investment bank Keefe, Bruyette & Woods (KBW) has upgraded its rating for bitcoin miner TeraWulf (WULF) from “market perform” to “outperform,” and raised its target price from $9.5 to $24.

KBW stated that this reassessment is based on investors “underestimating the extent of the shift in bitcoin mining towards high-performance computing (HPC) leasing business portfolios in 2026-2027, as well as the strong growth momentum driven by the net 646 megawatt HPC leasing project by 2027.”