Arete Research has recommended that TeraWulf Inc. (NASDAQ: WULF) receive a "buy" rating, suggesting the stock could rise by 86% from its current price of $16.11. The firm's price target is $30.00. This follows Morgan Stanley's initial coverage of three publicly traded bitcoin mining companies on February 9. The recommendation is largely based on the company's deep roots in the energy sector, which analysts believe gives them an advantage in the digital infrastructure market. The company's full-year financial results for 2025 also showed growth.