Top 10 Penny Stocks That Will Skyrocket

3. TeraWulf Inc. (NASDAQ:WULF)

Price: $3.20

Analyst Upside Potential: 196.87%

Number of Hedge Fund Holders: 43

TeraWulf Inc. (NASDAQ:WULF) specializes in environmentally sustainable, next-generation data center infrastructure designed for Bitcoin mining and high-performance computing. It operates the Lake Mariner facility in Western New York and generates revenue primarily through Bitcoin mining.

In fiscal 2024, TeraWulf Inc. (NASDAQ:WULF) experienced a transformative year, achieving significant milestones across its Bitcoin mining and high-performance computing businesses. The company doubled its revenue and adjusted EBITDA in 2024 due to increased Bitcoin production and favorable pricing. It mined 2,177 Bitcoin during the year with 423 coins mined in the fourth quarter. By year-end, its mining operations achieved a hash rate of 9.7 exahash per second, driven by approximately 60,000 miners. Management noted that once new S21 Pro miners are fully deployed in Miner Building 5, the hash rate is expected to increase to 13.1 EH/s, with fleet efficiency improving to 18.2 joules per terahash. It is one of the top penny stocks that will skyrocket.