Paul B. Prager, Chief Executive Officer of TeraWulf Inc. (NASDAQ: WULF), executed a transaction to sell 137,500 shares of the company's common stock on June 29, 2026. The divestment yielded total proceeds of $3,656,950. The shares were disposed of at prices ranging from $26.5800 to $27.5799 per share, with a weighted average price of $26.596. This transaction was carried out indirectly through Beowulf E&D Holdings Inc., an entity for which Mr. Prager serves as the sole manager. Mr. Prager disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.
Following this sale, Mr. Prager's indirect holdings through Beowulf E&D Holdings Inc. amount to 3,945,052 shares. His direct ownership of TeraWulf common stock is 1,761,479 shares. Mr. Prager also holds indirect beneficial ownership through several other entities: 5,000 shares through Heorot Power Holdings LLC, where he is the sole manager. He disclaims beneficial ownership of these shares except for his pecuniary interest. 33,554,688 shares through Riesling Power LLC. Mr. Prager, as the sole trustee of The Paul B. Prager Revocable Trust (the sole member of Riesling Power LLC), may be deemed a beneficial owner of these shares. 1,100,000 shares through Stammtisch Investments LLC, where he is the sole manager. He disclaims beneficial ownership of these shares except for his pecuniary interest. 141,726 shares through Allin Wulf LLC, where he is the sole manager. He disclaims beneficial ownership of these shares except for his pecuniary interest.
The transaction was reported on July 1, 2026. In other recent news, TeraWulf Inc. has made significant strides with its financial and infrastructure developments. The company completed a $3.2 billion high-yield bond sale to fund the expansion of its data center at the Lake Mariner campus in New York, with the bond receiving substantial investor interest due to a guarantee from Google. In addition, TeraWulf is exploring leveraged loans to further support its AI infrastructure expansion, working alongside Morgan Stanley and other financial institutions. Analyst firms are taking note of these developments, with BofA Securities initiating coverage of TeraWulf with a Buy rating, citing the company's shift towards AI infrastructure as a positive move. Similarly, Bernstein SocGen Group has initiated coverage with an outperform rating, highlighting the company's extensive power development pipeline and its capital-light lease model. Citizens has reiterated a Market Outperform rating, noting the progress at the Lake Mariner facility, which is expected to see significant capacity increases by 2026. Additionally, TeraWulf has acquired a new development site in Eastern Kentucky, expected to support over 1 gigawatt of data center capacity, with initial delivery slated for 2028. These recent developments indicate TeraWulf's strategic focus on expanding its digital infrastructure to meet growing AI demands.