Stock Track | TeraWulf Inc. Soars 5.17% as Bitcoin Rally Boosts Cryptocurrency Miners

Stock Track12-05

Shares of TeraWulf Inc., a cryptocurrency mining company, soared 5.17% on Thursday in the 24-hour period. The surge in TeraWulf's stock price coincided with a significant rally in Bitcoin, the world's largest cryptocurrency.

The catalyst for Bitcoin's rally on Wednesday was the nomination of Paul Atkins as the next chairman of the Securities and Exchange Commission (SEC) by President-elect Donald Trump. Atkins, who currently holds a position within a crypto lobbying group and has previously criticized regulatory action taken by the SEC, is seen as a positive development for the cryptocurrency industry.

Bitcoin's price surged to nearly $100,000, reaching $99,200 on Wednesday afternoon. The cryptocurrency has gained over 134% this year and has surged more than 40% since Election Day. However, it has yet to breach the $100,000 mark, coming close on November 23 when it traded as high as $99,488.

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