12 Best Stocks to Invest in for a Stock Market Game

7. TeraWulf Inc. (NASDAQ:WULF)

Price momentum over the past year: 88.44%

TeraWulf Inc. (NASDAQ:WULF) is a Maryland-based provider of fully integrated environmentally clean bitcoin mining facilities in the United States. Operating as a digital asset technology company, the powerhouse is also involved in the provision of miner hosting services to external entities. The company aims to generate domestically produced bitcoin through nuclear, hydro, and solar energy systems. By adopting a more flexible infrastructure model,  the company maximizes operational efficiency while minimizing environmental impact.

With merely four years of inception, TeraWulf Inc. (NASDAQ:WULF) is anticipated to not remain a penny stock in the times ahead. The management views 2024 as the transitional year for the company, emphasizing the doubling of revenue and adjusted EBITDA year-over-year. This had much to do with the higher Bitcoin production and favorable pricing. Additionally, the restructuring of the Lake Mariner ground lease and the initiation of the Cayuga site, which intends to add 150 MW of capacity by 2026, were major developments surrounding the company.

The future seems equally promising, especially due to the HPC hosting contracts. TeraWulf Inc. (NASDAQ:WULF) anticipates significant revenue growth from its Core42 agreement, which will contribute around $100 million in revenue annually over the 10-year term. Additional HPC hosting projects are expected to add between $140 and $210 million annually. Moreover, sales are set to nearly double again in the current year, and then again in the coming year before balancing. Paul Prager, CEO of TeraWulf, made the following comment:

“Looking ahead to 2025, our focus is clear. One, energize Miner Building 5 and integrate our newly upgraded mining fleet. Two, execute our Core42 agreement, ensuring timely delivery of contracted capacity. Three, contract additional HPC hosting capacity with the goal of exiting 2026 with 200 to 250 megawatts of revenue-generating HPC compute capacity; and Four, secure project financing of our HPC data center.”

Based on 12-month ratings in the last 3 months by 8 Wall Street analysts, the stock price is expected to be $7, with a maximum of $11 and an average of $9.38.