TeraWulf (NASDAQ: WULF) was on fire today.  And no, this wasn’t just another crypto sympathy trade. This was the market waking up to a story it’s been sleeping on.

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The catalyst: Morgan Stanley stepping in and lighting the match. 

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The firm initiated coverage with an Overweight rating and a big, bold price target of $37 a share.  With that, investors quickly started asking the right question: What if TeraWulf isn’t just a Bitcoin miner?

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That’s when the stock took off.

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You see, TeraWulf owns power-hungry, high-quality energy infrastructure. The kind that can run Bitcoin miners today and AI data centers tomorrow. And that’s the pivot the Street is finally starting to price in. This isn’t about chasing the next move in Bitcoin. This is about owning cheap power, scalable infrastructure, and optionality in a market that’s desperate for all three.

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Remember: AI doesn’t run on vibes. It runs on electricity. A lot of it.

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A Crypto Lottery Ticket

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Morgan Stanley didn’t just slap a rating on this thing for fun. It focused on TeraWulf’s ability to repurpose its facilities for high-performance computing and AI workloads, which is where the real money is flowing right now. And that reframes the stock from “crypto lottery ticket” to energy-backed digital infrastructure play. 

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Of course, if you want to profit from the rise in energy demand from data centers while avoiding direct exposure to crypto, you can also stick with the utilities and power suppliers that don’t live and die by crypto market swings.  These include, but are not limited to:

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  • Xcel Energy (NASDAQ: XEL)
  • NextEra Energy (NYSE: NEE)
  • PowerBank Corp. (NASDAQ: SUUN)
  • Digital Realty Trust (NYSE: DLR)
  • Forgent Power Solution (NYSE: FPS)

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Worth noting, however, Morgan Stanley’s got a $37 price target on WULF.  If the stock taps that target, you’re looking at a potential gain of more than 120%.  Just tread lightly, because the company is still directly connected to the Crypto game.  And that’s a dangerous game to play right now, even with a Morgan Stanley nudge. Invest carefully and cautiously.

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