10 Worst Performing Crypto Stocks to Buy Now

5. TeraWulf Inc. (NASDAQ:WULF)

Year-to-Date Performance: -25.27%

Number of Hedge Fund Holders: 43

TeraWulf Inc. (NASDAQ:WULF) is an American company that develops, owns, and operates advanced data center infrastructure in the United States that is designed for Bitcoin mining and high-performance computing (HPC). The company owns and operates the Lake Mariner facility in Western New York and generates revenue primarily through Bitcoin mining. TeraWulf Inc. (NASDAQ:WULF) is one of the worst-performing stocks in the crypto sector.

The company is focused on growth in both its Bitcoin mining and HPC hosting businesses and it is also making strategic moves to improve operational capacity. In the third quarter of 2024, TeraWulf Inc. (NASDAQ:WULF) self-mined 555 Bitcoin at its Lake Mariner and Nautilus Cryptomine facilities. By the end of Q3 2024, the company had a total self-mining hashrate capacity of 10.0 EH/s. This marks an increase of 100% year-over-year. Following the third quarter of 2024, TeraWulf Inc. (NASDAQ:WULF) developed a 2.5 megawatt HPC hosting proof-of-concept project at the Lake Mariner facility.