TeraWulf Inc. (WULF) saw its stock price surge 8.17% in pre-market trading on Monday, following the company's announcement of signing long-term data center lease agreements with Core42.
Under the agreements, TeraWulf will lease data center capacity from Core42 to support its cryptocurrency mining operations. The move is expected to provide TeraWulf with a stable and cost-effective solution for its energy-intensive mining activities.
The long-term nature of the lease agreements suggests that investors are optimistic about TeraWulf's ability to secure the necessary infrastructure for its operations, potentially driving the pre-market rally in the company's stock price.
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