Bank of America Initiates TeraWulf Coverage with Buy Rating and $34 Target

Key Facts

In a move reflecting growing institutional confidence in digital asset infrastructure, BofA Securities analysts have initiated coverage on Bitcoin miner TeraWulf Inc. According to reports, the bank's research arm issued a Buy rating for the stock with a price target of $34. This initiation comes as investors increasingly seek to identify sector leaders characterized by energy efficiency and operational scale.

This bullish outlook arrives as major industry peers like Marathon Digital and Riot Platforms undergo strategic shifts to navigate post-halving mining economics. Per market data, WULF shares are currently trading at a significant discount to Bank of America's price target, implying a potential upside of over 30% from current levels. Analysts note that TeraWulf's focus on nuclear and sustainable energy sources provides a cost-advantage over many industry competitors.

Regarding price action, WULF stood at $26.06 (close June 12, 2026), having reached a daily high of $26.6. Traders should watch for support near the $25.35 level, the low from the most recent session. Looking ahead, the market will focus on the U.S. CPI inflation data scheduled for June 10, as these figures often drive Bitcoin price volatility and subsequent sentiment for mining equities.