TeraWulf Stock Falls 7% as New York Freezes Data Center Expansion on July 14

WULF-0.15%
On July 14, New York Governor Kathy Hochul issued a moratorium on data center construction permits across the state, causing TeraWulf (WULF) shares to fall 7.08% to $19.41. The directive temporarily suspends approvals for large new hyperscale data centers while authorities conduct an environmental impact assessment examining electricity demand, water consumption, and air quality effects. TeraWulf CEO Paul Prager called the measure a positive development, arguing that companies with existing permits and secured energy access would benefit, while competitors face greater hurdles. Investors disagreed, suggesting concerns about expansion delays and regulatory uncertainty outweighed management's optimism.
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