TeraWulf shares fell 6.21% after the company priced a $900 million stock sale at $19 per share, down from the previous close of $20.95, raising investor concerns about dilution. The AI data center operator plans to use the capital for expanding its data center network. The broader market reached record highs with the S&P 500 up 0.80% and Nasdaq up 1.59%.

U.S. stock futures gained on Wednesday following Trump's comments about potential Iran talks, boosting de-escalation hopes. Major indices showed mixed performance with the S&P 500 up 0.05% and Nasdaq 100 up 0.11% in premarket trading. Key movers included ASML beating earnings expectations, Broadcom partnering with Meta on AI chips, and GitLab collaborating with Google Cloud. BlackRock upgraded to overweight U.S. stocks citing contained geopolitical damage and strong corporate earnings.

TeraWulf Inc. (NASDAQ: WULF) priced a public common stock offering of 47.4 million shares at $19.00 per share, raising approximately $900 million (upsized from $800 million). The company plans to use net proceeds to fund construction of its data center campus in Hawesville, Kentucky, repay bridge credit facility amounts, and support future site acquisitions and corporate purposes. The offering is expected to close on April 16, 2026.

Bitcoin has significantly underperformed AI stocks like Nvidia over the past five years, prompting Bitcoin miners to pivot toward AI computing. However, the article argues that Bitcoin's long-term potential could be enhanced through integration with AI agents making blockchain-powered micropayments, potentially making it as valuable as major AI companies. The author cautions that AI stocks may be in a bubble and suggests Bitcoin remains a better long-term investment despite recent underperformance.

Covalis (Gibraltar) Ltd invested $30.29 million in Core Scientific, acquiring 2,080,550 shares in Q4 2025. The investment reflects Core Scientific's strategic pivot from bitcoin mining toward AI data centers and high-density colocation services, with the company scaling toward 1.5 gigawatt of leasable capacity. Colocation revenue surged to $65 million in 2025 from $24 million in 2024, positioning the company as an AI infrastructure play.

The article argues that AI infrastructure 'pick-and-shovel' companies are better positioned than big tech firms to profit from the AI boom. With hyperscaler CAPEX spending projected to reach $515 billion in 2026, infrastructure providers like Nebius Group, IREN, Astera Labs, TeraWulf, and Cipher Mining offer stable revenues, high margins through GPU-as-a-Service models, and exposure to growing AI demand regardless of which AI platform wins.

TeraWulf Inc. (Nasdaq: WULF), a digital infrastructure company specializing in data centers and bitcoin mining, announced that senior management will participate in multiple major conferences and events from March through March 2026, including Morgan Stanley Energy and Power Conference, J.P. Morgan Global Leveraged Finance Conference, Nvidia GTC 2026, and others.

TeraWulf surged 16.4% after Morgan Stanley initiated coverage with an Overweight rating and $37 price target, highlighting the company's potential as an AI-focused data center operator rather than just a bitcoin miner. The analyst call emphasized TeraWulf's ability to redirect energy capacity from crypto mining to AI infrastructure, setting it apart from peers. Trading volume reached 64.4 million shares, nearly double the three-month average.

TeraWulf Inc. (NASDAQ: WULF) announced the acquisition of two brownfield infrastructure sites in Hawesville, Kentucky and Charles County, Maryland, adding approximately 1.5 GW of capacity. The Kentucky site offers 480 MW of existing power availability with scalable development potential, while the Maryland site (Morgantown Generating Station) provides 210 MW of operational generation capacity expandable to 1 GW. These acquisitions double TeraWulf's platform to 2.8 GW across five sites, supporting the company's strategy of developing energy-advantaged locations with near-term power availability.

The Bitwise Crypto Industry Innovators ETF (BITQ) offers crypto exposure through a basket of crypto-correlated equities rather than direct digital currency ownership. With $431 million in AUM, the fund allocates 41.1% to custody and trading companies like Coinbase Global, and 37% to Bitcoin miners, some of which are diversifying into AI infrastructure and data centers.

The global waste-to-energy market is projected to grow from $35.84 billion in 2024 to $50.92 billion by 2032, with a CAGR of 4.5%. The sector is driven by urbanization, landfill diversion mandates, and long-term contracted revenue models. Key companies in the space are advancing projects: BioEnergy Development launched BioGrid™ for rural communities, Oklo signed an agreement with Meta for a 1.2 GW power campus in Ohio, NANO Nuclear partnered with Ameresco for modular reactor deployment, CleanSpark demonstrated demand response capabilities for TVA, and TeraWulf successfully priced financing for a 168 MW HPC facility in Texas.

Despite Bitcoin's pullback from its 2025 all-time high of $126,000 to below $94,000, crypto enthusiasts remain optimistic about 2026. Crypto mining companies have performed well and are pivoting toward high-demand AI and data center operations. Three major publicly traded miners—IREN Ltd., TeraWulf Inc., and Cipher Mining Inc.—are highlighted as potential investment opportunities, with analysts predicting significant upside potential for each.