Quick Read – TeraWulf (WULF) leads a sector-wide rebound with a 12% gain, anchored by a 20-year, $19 billion Anthropic data-center lease and 99% year-to-date returns. – Cipher Mining (CIFR) rides the bounce with 700 MW of contracted HPC capacity and anchor leases with Google and…
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Shares of TeraWulf (NASDAQ:WULF) are up 12% to $22.67 in mid-morning trading, leading a broad rebound across AI-infrastructure names that were hammered on Tuesday. IREN (NASDAQ:IREN) stock is up 7% to $42.55, while peers Applied Digital (NASDAQ:APLD) and Cipher Mining (NASDAQ:CIFR) are up 3% to $31.53 and up 5% to $21.45, respectively. Today’s move mirrors yesterday’s decline, when TeraWulf shares dropped 8%, IREN slid 7%, and Applied Digital fell 6%.
There’s no fresh company-specific catalyst driving the bounce. Instead, the group is riding a broader risk-on tape, with beaten-down Chinese tech and other high-beta names also rebounding. All four are former Bitcoin (CRYPTO:BTC) miners repurposing power and data-center capacity for AI compute leasing.