We recently published 10 Stocks With Eye-Popping Gains — 1 Surges 3,000%. TeraWulf Inc. (NASDAQ:WULF) is one of the top performers on Tuesday.
TeraWulf rallied for a third consecutive day on Tuesday to nearly touch its 52-week high, as investor optimism for a fellow high-performance computing (HPC) company spilled over to its stock.
On Tuesday, TeraWulf Inc. jumped by as high as 12 percent to $10.32—just 3.6 percent shy of its highest 52-week price of $10.71—before ending the day just up by 11.96 percent at $10.30 apiece.
TeraWulf Inc. rallied alongside its counterparts, namely Riot Platforms, Hut 8, IREN Ltd., and Cipher Mining, mirroring Nebius Group, which announced on the same day an $18 billion cloud computing deal with Microsoft Corp.
TeraWulf Inc., a Bitcoin mining company that also engages in HPC, recently expanded a partnership with Google and Fluidstack for the supply of 360 MW of IT capacity to the latter.
In connection with the agreement, technology giant Google announced intentions to invest $3.2 billion in Terawulf Inc. to support the project, in exchange for warrants to acquire 32.5 million WULF common shares, or a 14-percent pro-forma equity.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
This article is originally published at Insider Monkey.
