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TeraWulf Inc., together with its subsidiaries, owns, develops, operates digital infrastructure in the United States. It also develops and operates bitcoin mining facilities for bitcoin mining and high-performance computing workloads, leveraging clean, cost-effective, and reliable energy. The company was founded in 2021 and is headquartered in Easton, Maryland.

The race to build artificial intelligence infrastructure is increasingly about securing electricity, completing data centers and turning commitments into steady revenues. IREN Limited IREN and TeraWulf WULF share that challenge.

Power scarcity has become the defining trade in artificial intelligence (AI) infrastructure stocks, and a pointed message from one data-center developer's chief executive just gave the whole group a fresh push. TeraWulf (NASDAQ:WULF) stock is at $12.

A renewed debate over whether specialized AI cloud providers can pay for their buildouts is creating volatility in IREN Limited (NASDAQ:IREN) stock, even after a direct reassurance from its co-CEO. In morning trading, IREN stock declined 6% to $26.

AI infrastructure stocks are bouncing back as last week's selloff in the group starts to unwind. TeraWulf (NASDAQ:WULF) stock is at $12.42, up 6% in morning trading, moving in step with the sector's other power-backed data center builders.

Investors are souring on leveraged AI data center developers again. Applied Digital (NASDAQ:APLD) stock has fallen 4%, recently trading around $19.59, extending a rotation out of highly valued, debt-heavy AI infrastructure stocks.