TeraWulf Signs 20-Year Anthropic Data Center Lease Worth $19 Billion

Bitcoin miner TeraWulf has signed a 20-year lease agreement with AI company Anthropic that is expected to generate approximately $19 billion in revenue, the company announced Monday. Shares of TeraWulf jumped more than 17% on the news, contributing to a year-to-date gain of over 117%.

Deal Centers on Kentucky Data Campus

The agreement covers a purpose-built AI infrastructure campus at TeraWulf’s Justified Data site in Hawesville, Kentucky, near Louisville. The project will be developed in phases, with initial services expected to begin in the second half of 2027. By early 2028, the site is projected to deliver 401 megawatts of critical IT load, a substantial capacity level suited for AI training workloads.

The move reflects a wider trend among bitcoin mining companies, many of which have added AI-related business lines to secure more stable and predictable revenue streams as demand for data center capacity grows alongside AI’s heavy computing needs.

Separate Deal Frees Up Capital for AI Expansion

Alongside the Anthropic lease, TeraWulf agreed to sell its 50.1% ownership stake in a joint venture campus in Abernathy, Texas, originally established in 2025. The sale, made to joint venture partner Fluidstack, allows TeraWulf to redirect that capital toward AI infrastructure projects it fully owns and operates.

The company said the combined transactions are designed to improve long-term revenue visibility, strengthen its financial position, and shift its capital toward infrastructure where it holds direct ownership, customer relationships and operational control.