10 Best US Stocks to Buy Under $10

6. Terawulf Inc. (NASDAQ:WULF)

Share Price as of October 16: $4.61

Number of Hedge Fund Holders: 37

Terawulf Inc. (NASDAQ:WULF) is a North American bitcoin mining company that specializes in the production of bitcoin using renewable energy sources. It owns and operates bitcoin mining facilities in the US, focusing on regions with abundant renewable energy resources, intending to contribute to the growth of the bitcoin ecosystem while promoting sustainable mining practices.

The company generated $35.57 million in revenue for the second quarter of 2024, a 130.16% year-over-year increase. It mined 184 Bitcoins (5.9 daily). Its self-mining capacity increased 100% year-over-year to 10.0 EH/s. The operational hash rate averaged 8.2 EH/s. It operates two Bitcoin mining facilities: the wholly-owned Lake Mariner Data facility in New York (10 EH/s capacity) and the Nautilus Cryptomine facility in Pennsylvania (joint venture with Cumulus Coin). It amended Bitman purchase agreements and acquired 5,000 S21 Pro miners at $16/TH. It also made progress in AI and HPC initiatives through WULF Den and streamlined its capital structure.

Terawulf Inc. (NASDAQ:WULF) sold its 25% stake in Nautilus Cryptomine for $92 million and will reinvest the proceeds to expand its high-performance computing and Bitcoin mining operations at the Lake Mariner facility. It secured a 35-year land lease for 157 acres at the Lake Mariner facility for $281,398.20 annual rent 20 million shares and $12 million in cash. This deal secures the company’s long-term growth trajectory and infrastructure capacity up to 750 MW.

The company’s commitment to sustainability and its significant infrastructure positions it well for growth in the Bitcoin mining and alternative compute hosting sectors. The operational excellence and focus on increasing output demonstrate its potential for sustained profitability in the evolving cryptocurrency market.