Bank of Nova Scotia filed a Schedule 13G with the SEC. The bank disclosed a 4.92% passive stake in TeraWulf Inc. It holds 25,621,429 shares of the company.
TeraWulf stock rebounded on Monday. CEO Paul Prager distinguished the company's business model from neocloud operators. He emphasized long-term contracted cash flows and investment-grade counterparties as key strengths. The stock lost over 33% in the last month. This occurred amid its pivot from Bitcoin mining to developing AI data centers. TeraWulf's move into AI infrastructure includes a 20-year data center lease agreement with Anthropic.