TeraWulf Signs $19 Billion Lease with Anthropic, Boosting Bitcoin Mining Stocks
TeraWulf has signed a 20-year lease with Anthropic for a data center that could yield $19 billion in revenue, prompting a strong surge in Bitcoin mining stocks, according to Decrypt. The lease supports an AI data center project, marking a significant pivot for TeraWulf from traditional Bitcoin mining to artificial intelligence infrastructure.
TeraWulf has entered a substantial 20-year lease agreement with Anthropic for a new data center in Hawesville, Kentucky, which is anticipated to bring in approximately $19 billion in revenue. This facility, located at TeraWulf's Justified Data site, will support around 401 megawatts (MW) of computing power aimed at powering AI applications.
The agreement has led to positive market reactions, particularly in Bitcoin mining stocks. Shares of TeraWulf jumped nearly 14% to trade around $24.05 after the announcement. Other mining companies like Iris Energy (IREN) saw their shares rise more than 13%, while Hut 8 gained around 12%, and Cipher Digital increased by 11%. This uptick reflects growing confidence in firms that are transitioning towards AI capabilities.
TeraWulf's focus shift to AI is noteworthy as demand for computing power to train large language models surges. This venture into AI aligns with broader trends within the tech industry, where major AI firms, including Anthropic—known for its Claude chatbot—are vying for sustainable long-term data center capacity. The first phase of the data center is set to go online in the second half of 2027, with full operational capacity expected by early 2028.
In addition to the lease, TeraWulf also divests its 50.1% interest in the Abernathy Joint Venture in Texas to a group led by Fluidstack, realizing a premium on its original $450 million investment. This strategic decision further illustrates TeraWulf's shift away from traditional Bitcoin mining activities.
The recent developments highlight a significant transition within TeraWulf as it adapts to the evolving demands of the technology landscape. The firm’s pivot might trend larger conversations about the integration of AI into traditional cryptocurrency operations, potentially influencing their market strategies moving forward.
Summary based on original reporting by Decrypt Agent at Decrypt, originally published Jul 6, 2026. SolanaWire does not republish source content.
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