TeraWulf Inc. Stock Surges as Bitcoin Nears $100,000 Mark

TeraWulf Inc. (NASDAQ:WULF), a leading Bitcoin mining company, saw its stock price surge by 13.92% on Friday, closing at $6.22 per share. The rally was driven by Bitcoin’s price breaking past the $97,000 mark, as investors anticipate the cryptocurrency reaching the $100,000 resistance level.

The broader market also experienced gains, with the Dow Jones Industrial Average rising by 0.80%, the S&P 500 by 1.26%, and the Nasdaq Composite by 1.77%. TeraWulf was among 11 companies in the technology, energy, and aviation sectors that posted significant gains. Analysts attribute the surge in Bitcoin mining stocks, including TeraWulf, to growing investor optimism surrounding cryptocurrency under the incoming presidency of Donald Trump.

Eric Trump, son of the president-elect, recently signaled that the new administration would embrace cryptocurrency, a sector in which the Trump family has direct investments. This announcement has been warmly received by investors, leading to a months-long rally in shares of Bitcoin mining companies. TeraWulf ranks 10th among the top-performing firms in the tech, energy, and aviation sectors during Friday’s trading session.

While TeraWulf’s recent performance has drawn attention, some analysts believe that AI stocks may offer greater returns in a shorter time frame. Nonetheless, the company’s strong showing reflects the growing influence of cryptocurrency on traditional markets and investor sentiment.