WULF — TeraWulf Inc. Dilution Risk Tracker

TeraWulf Inc. (WULF) has a DilutionScore of 30/100, rated Medium dilution risk. This tier indicates some dilution exposure — often an older shelf registration with remaining capacity, warrants not yet exercised, or a cash position that will require monitoring over the next several quarters. Score as of July 14, 2026.

WULF has an active ATM (at-the-market) program with $900.6M remaining capacity. ATM programs allow companies to sell shares continuously into the open market through a broker-dealer — without announcing a secondary offering. This creates a silent but steady source of share dilution that shows up in quarterly share count increases rather than a discrete offering event. DilutionWatch tracks 8.5M outstanding warrants for WULF. Warrants become dilutive when exercised — converting to common shares at the strike price. Warrants near or in-the-money deserve particular attention since exercise can add materially to the outstanding share count within a short window.

DilutionWatch tracks over 25 SEC filing types for WULF in real-time, scanning EDGAR every 60 seconds. The DilutionWatch screener shows real-time score changes for WULF alongside comparable medium-risk stocks. Not financial advice — this analysis is for informational purposes only.