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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InIn a move highlighting the critical importance of securing power infrastructure for mining and data operations, TeraWulf Inc. shares surged. The rally followed authorization from the Federal Energy Regulatory Commission (FERC) for its subsidiary, Chesapeake Data, to acquire 100% of membership interests in Morgantown Power from Lanyard Power Holdings. This regulatory green light, issued under the Federal Power Act, serves as a pivotal catalyst for the company's strategic infrastructure expansion.
Morgantown Power operates four oil-fired generating units totaling approximately 216 megawatts at the Morgantown Generating Station in Maryland, representing a significant boost to TeraWulf's operational capacity. According to analyst reports, this acquisition strengthens the company's position in a competitive energy landscape, especially as the stock maintains a long-term uptrend with gains exceeding 262% over the past 12 months despite recent price volatility.
From a technical perspective, traders are monitoring support levels near $16.50 and resistance at $20.50 to determine the next trend phase, noting that specific price data is currently unavailable in the database (as of close 2026-07-30). Looking ahead at the economic calendar, investors are watching for the U.S. Dallas Fed Manufacturing Index on July 27, which may provide broader context for industrial and energy sector performance.