Shares of TeraWulf Inc. (WULF), a leading cryptocurrency mining company, soared over 5% in Monday's pre-market trading session, outperforming the broader market amid a surge in Bitcoin prices.
Bitcoin, the world's largest cryptocurrency, rallied to a record high above $106,000 on Monday, stoking enthusiasm among crypto investors. The rally was fueled by speculation that the incoming Trump administration would usher in a more favorable regulatory environment for cryptocurrencies.
As a major player in the cryptocurrency mining industry, TeraWulf's stock price reacted positively to the surge in Bitcoin prices and the overall bullish sentiment in the crypto market. The company's fortunes are closely tied to the performance of cryptocurrencies, as mining operations generate revenue through the creation of new digital coins.
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