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Covalis (Gibraltar) Ltd. disclosed its new position in TeraWulf Inc. (NASDAQ:WULF), planning to purchase 939,911 shares in Q4 2025 valued at approximately $10.8 million, making it the fund's third-largest holding. TeraWulf is a US-based bitcoin miner currently transitioning to develop high-performance computing infrastructure and plans to sign long-term data center lease agreements worth over $12.8 billion in 2025. As of Thursday, its stock price was $14.67, with a cumulative gain of 350% over the past year.