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

Reuters

Mon, July 6, 2026 at 6:35 AM PDT 1 min read

July 6 (Reuters) - 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 16% in premarket 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.

(Reporting by ​Anhata Rooprai and Anzar Mehraj in Bengaluru; ​Editing by Vijay Kishore)