TeraWulf jumps on $19 billion data center lease deal with Anthropic

TeraWulf ​said on Monday ​it signed a 20-year lease with Anthropic ​for data center infrastructure, a deal expected to generate about $19 billion in contracted revenue, sending the bitcoin ‌miner's shares ⁠up ⁠more than 10% in early trading.

The deal secures long-term, ​recurring revenue for TeraWulf from an AI customer as ​it shifts away from relying on bitcoin mining, a transition the company said in ​May would increasingly drive its business.

Here ⁠are some ‌details:


The Anthropic lease ​covers a ​purpose-built AI infrastructure campus at TeraWulf's ⁠Justified Data site in Hawesville, Kentucky.

The ​campus will support about 401 megawatts ​of critical IT load, with initial capacity expected online in the second half of 2027 and full capacity by early 2028.

Separately, TeraWulf agreed to sell its ‌50.1% stake in the Abernathy joint venture to an investor group led ​by partner Fluidstack.

The sale ⁠monetizes TeraWulf's roughly $450 million investment at a premium to invested capital and frees up capital for wholly ​owned AI infrastructure projects.

As of previous close, TeraWulf shares had gained about 85% year to date.