10 Best Bitcoin and Blockchain Stocks To Buy Right Now

4. TeraWulf Inc. (NASDAQ:WULF)

Number of Hedge Fund Holders: 35

TeraWulf Inc. (NASDAQ:WULF) specializes in developing and operating fully integrated, sustainable facilities supporting Bitcoin mining and AI/HPC applications. The firm generates revenue primarily through Bitcoin mining, leveraging predominantly zero-carbon energy sources. As of September 30, the firm owned and operated, either independently or through a joint venture, two bitcoin mining facilities, the Lake Mariner Facility and the Nautilus Cryptomine Facility. In October, TeraWulf sold its entire 25% equity interest in the joint venture that owns the Nautilus Cryptomine Facility.

TeraWulf is positioned to maximize profitability and growth by delivering low-cost Bitcoin production with scalable HPC hosting infrastructure. The firm is leveraging its success in Bitcoin mining as the foundation for expanding into alternative compute hosting, a strategic move that aligns perfectly with the rising demand for high-power data center capacity. Recently, the firm entered into a new, long-term ground lease agreement at Lake Mariner extending both term and land area to support its expansion into HPC hosting.

During the third quarter, TeraWulf Inc. (NASDAQ:WULF) self-mined 555 bitcoin across the Lake Mariner and Nautilus Cryptomine facilities. Revenue rose to $27.1 million in Q3 2024 compared to $19.0 million in the prior year period. As of September 30, 2024, the firm has a total self-mining hashrate capacity of 10.0 EH/s, an increase of 100% year-over-year.

November was a good month for TeraWulf Inc. (NASDAQ:WULF)  as it mined 115 bitcoin with an average daily production rate of nearly four bitcoin. It achieved 8.4 EH/s of operational self-mining capacity, up 68% year-over-year. Additionally, the firm completed critical electrical upgrades to support Lake Mariner HPC hosting and mining buildings. WULF remains on track to deliver 72.5 MW of HPC hosting capacity by the end of Q2 2025.