TeraWulf signs $19 billion AI data center lease with Anthropic in major Bitcoin mining pivot

AI startup that's never turned a profit say's it'll totally be around in 2047 to close its $19B lease

In its short life, Anthropic has captured hearts, minds, and wallets - and spooked the US government - but it hasn't actually turned a profit. That's not stopping CEO Dario Amodei from signing a two-decade lease with crypto-mining outfit turned AI datacenter operator TeraWulf. Anthropic believes it's not only going to survive any AI bubble burst but keep operating until 2047, or at least that's what it (probably) wants prospective investors in its upcoming initial public offering. What will Anthropic end up paying for lights, power, and shelter from the elements provided by TeraWulf's Justified Data campus in Hawesville, Kentucky? If everything goes to plan, the deal will be worth a whopping $19 billion in contracted revenues over the next two decades. "Expected" is the key word here because the 401-megawatt facility isn't working yet. TeraWulf expects to commence limited operations in the second half of 2027, before completing the facility sometime the following year. Datacenters aren't cheap to build or run. Approximately half the cost of bringing up the datacenter is attributed to the power, shell, and thermal management systems with the rest being compute and networking. So, on top of the $19 billion Anthropic is burning on the new digs, the AI upstart still needs to fill the facility with compute -- and that means raising capital. According to an SEC filing published Monday, "Anthropic's payment obligations under the Justified Data Campus Lease are expected to be supported by an investment-grade credit." That is to say, Anthropic's ability to make rent will depend on its ability to continue raising capital. The model developer won't have to wait too much longer for its next opportunity to get its hands on some cash. Early last month, Anthropic confidentially filed for an IPO. While details remain thin, the company is widely expected to make its debut on Wall Street this northern autumn/fall. It's shaping up to be a big year for AI IPOs after SpaceX (which now owns xAI) made Elon Musk the world's first trillionaire. Mere retail investors haven't fared so well, as after the price of SpaceX scrip hit the stratosphere in the days after its IPO, it's settled to now trade at about six percent above launch day prices. TeraWulf is also jumping through hoops to finance the deal. Alongside bagging Amodei and crew as customers, the company announced it was selling its 50.1 percent stake in the Abernathy Joint Venture to an investment group led by FluidStack. That joint venture was established last year to develop a 168-megawatt datacenter in Abernathy, Texas. TeraWulf is now pulling its $450 million out of the project so it can use that capital to finance additional datacenter builds. While that cash injection should help to bring its Justified Data campus online, TeraWulf could still find itself in a precarious position should the bubble burst and Anthropic's ability to secure the new capital necessary to make rent evaporate. With that said, it wouldn't be the only one facing this stark reality, and its exposure is relatively small compared to the $300 billion Oracle has committed to AI builds. Last week Big Red shared a laundry list of risk factors that could send its business spiraling and chief among them was its unbridled enthusiasm for all things AI. ®

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

July 6 (Reuters) - TeraWulf (WULF.O), opens new tab 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: Reporting by Anhata Rooprai and Anzar Mehraj in Bengaluru; Editing by Vijay Kishore Our Standards: The Thomson Reuters Trust Principles., opens new tab

Bitcoin Mining Stocks Jump After TeraWulf Signs $19 Billion Lease With Anthropic

Bitcoin mining stocks are broadly up big early Monday, led by TeraWulf and IREN. Bitcoin miner TeraWulf is placing a major bet on artificial intelligence, striking a 20-year lease with Anthropic that the company says could bring in roughly $19 billion in revenue while shedding part of its stake in a separate Texas data center project. Shares in TeraWulf (WULF) spiked following the announcement, recently trading at $24.05 -- a nearly 14% jump on the day. However, the move appears to have boosted confidence across a slate of Bitcoin mining firms that are increasingly leaning into AI compute, with IREN shares up more than 13%, Hut 8 up 12%, and Cipher Digital rising 11%. Keel Infrastructure (formerly Bitfarms), which rebranded and exited Bitcoin mining entirely to focus on AI, is also up 10% on the day. Under the deal announced Monday, Anthropic will occupy a purpose-built campus at TeraWulf's Justified Data site in Hawesville, Ky., a facility expected to eventually support about 401 megawatts of computing capacity. The first phase is slated to come online in the second half of 2027, with the site reaching full capacity by early 2028. TeraWulf said the lease is expected to be supported by an investment-grade credit rating. The Maryland-based company, traditionally known for Bitcoin mining, has been pivoting toward AI infrastructure as demand for computing power used to train large language models has surged. Anthropic, the AI company behind the Claude chatbot, is one of several major players racing to secure long-term power and data center capacity as it scales up its models. In a separate move, TeraWulf agreed to sell its 50.1% stake in the Abernathy Joint Venture -- a Texas data center project developed with partner Fluidstack -- to an investor group led by Fluidstack. The transaction monetizes TeraWulf's roughly $450 million investment at a premium to invested capital. Fluidstack will take over leadership of the project going forward. "When we announced the Justified Data campus acquisition in February, we told investors that we expected to secure a major customer commitment by around the end of the second quarter of 2026," said TeraWulf Chairman and CEO Paul Prager, in a statement. "The timing of today's announcement reflects the completion of final documentation and customary transaction processes, and we are proud to announce this landmark partnership with Anthropic."

TeraWulf Signs $19B Anthropic AI Lease, Stock Gains

The Bitcoin miner signed a 20-year AI infrastructure lease with Anthropic and sold its majority stake in a separate AI data center joint venture. Bitcoin miner TeraWulf, moving deeper into AI infrastructure, signed a 20-year data center lease with Anthropic expected to generate about $19 billion in contract revenue. The company also announced Monday that it is selling a majority stake in a separate AI data center joint venture to reinvest in wholly owned projects. The company's shares rose about 12% in Monday morning trading following the announcement, extending a roughly 107% year-to-date gain, according to Yahoo Finance data at the time of writing. TeraWulf stock price. Source: Yahoo Finance Under the agreement, Anthropic will lease a purpose-built AI data center campus at TeraWulf's Justified Data site in Hawesville, Kentucky. Acquired in February, the facility is designed to support 401 MW of critical IT capacity, with initial operations expected in the second half of 2027 and full buildout targeted for early 2028. Separately, TeraWulf agreed to sell its 50.1% stake in the Abernathy joint venture, an AI data center project in Texas, to an investor group led by partner Fluidstack. The company said it expects the sale to return its roughly $450 million investment which it plans to reinvest in AI infrastructure projects that it owns outright. AI demand reshapes Bitcoin mining industry The announcement comes as demand for AI infrastructure outpaces available computing capacity. Training and running large AI models requires data centers with high-performance chips, advanced cooling systems and access to large amounts of reliable electricity, making power-rich campuses increasingly valuable. That has created an opportunity for several Bitcoin miners, which already own sites with grid connections, power agreements and other infrastructure needed for energy-intensive computing. While AI data centers use different hardware than crypto mining operations, the overlap has prompted several miners to diversify into AI and high-performance computing (HPC). However, the pivot comes with significant costs. Blocksbridge Consulting estimated in June that public Bitcoin miners pursuing AI infrastructure may need roughly $50 billion in near-term capital, as AI data centers require far greater investment than traditional Bitcoin mining facilities. Last month, HIVE Digital signed a three-year, $220 million agreement to provide GPU cloud infrastructure for AI startup Cohere through Bell Canada's AI Fabric, while IREN acquired Spanish data center developer Nostrum Group, adding about 490 MW of secured, grid-connected power as it entered the European AI market.

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

TeraWulf signed a 20-year lease with Anthropic for AI data center infrastructure, securing about $19 billion in contracted revenue. The deal supports its shift from bitcoin mining to AI services. The company will also sell its Abernathy stake, freeing capital, while shares surged over 10% on the announcement. 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. US MarketsPowered By As on 06 Jul 2026, 10:22 PM IST S&P 500 Top Gainers Arista Networks172.61(7.89%) Advanced Micro Devices558.61(7.88%) Western Digital574.52(6.59%) Qualcomm187.34(6.29%) Gainers" S&P 500 Top Losers Solstice Advanced Mat68.45(-14.64%) Coterra Energy32.56(-8.62%) O'Reilly Automotive83.96(-6.97%) Constellation Brands129.35(-5.91%) Losers" 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.

TeraWulf Soars On $19 Billion Anthropic AI Infrastructure Deal - TeraWulf (NASDAQ:WULF)

TeraWulf signed a 20-year lease with Anthropic for its Justified Data campus in Hawesville, Kentucky. The project will deliver approximately 401 MW of critical IT capacity in phases, with initial operations expected in the second half of 2027 and full capacity by early 2028. The agreement is expected to generate approximately $19 billion in contracted lease revenue over its initial term and is backed by anticipated investment-grade credit support. Separately, TeraWulf is selling its 50.1% stake in the Abernathy Joint Venture, monetizing an investment of about $450 million at a premium. WULF Technical Outlook: Trend, RSI And Key Levels The stock's movement aligns with the overall strength in the Technology sector, which is currently the best performing sector today, gaining 2.7%. This positive momentum is likely bolstered by the company's strategic moves, enhancing its revenue visibility and financial position. TeraWulf's current price of $23.56 is situated 7.1% below its 20-day simple moving average (SMA) of $25.89, indicating a short-term bearish trend. The stock is, however, 17.9% above its 100-day SMA of $20.41, suggesting a stronger long-term bullish trend. The Relative Strength Index (RSI) currently sits at 46.19, indicating a neutral momentum phase. This suggests that the stock is neither overbought nor oversold, providing room for potential upward movement if positive sentiment continues. * Key Resistance: $26.00 -- a nearby level where rebounds can stall, aligning with the 50-day SMA. * Key Support: $19.50 -- a level where buyers previously stepped in, providing a safety net for the stock. WULF Outperforms The Technology Sector TeraWulf is outperforming its sector. The company's stock price rose 11.22%, compared with the Technology sector's 2.7% gain. This performance places the technology sector at the top of the rankings among all sectors today, reflecting strong investor interest in tech-related stocks. Over the past 30 days, the Technology sector has shown modest growth of 0.65%, while TeraWulf's impressive 12-month performance stands at 399.79%. This divergence highlights TeraWulf's potential as a leader within its sector, particularly as it capitalizes on the growing demand for AI infrastructure. WULF Earnings Preview And Analyst Price Targets TeraWulf's common stock is slated to provide its next financial update on Aug. 7 (estimated). * EPS Estimate: Loss of 19 cents (Down from Loss of 5 cents) * Revenue Estimate: $47.99 million (Up from $47.64 million) Analyst Consensus & Recent Actions: The stock carries a Buy rating with an average price target of $31.60. Recent analyst moves include: * Citigroup: Initiated with Buy (Target $36.00) (June 29) * B of A Securities: Initiated with Buy (Target $34.00) (June 15) * B. Riley Securities: Buy (Raises Target to $32.00) (May 27) How TeraWulf Ranks On Momentum Versus The Market Below is the Benzinga Edge scorecard for TeraWulf, highlighting its strengths and weaknesses compared to the broader market: * Momentum: Bullish (Score: 98.06) -- Stock is outperforming the broader market. The Verdict: TeraWulf's Benzinga Edge signal reveals a strong momentum-driven story, indicating robust performance relative to the market. This positive momentum, combined with strategic moves in AI infrastructure, positions the company favorably for future growth. WULF ETF Exposure: Funds With The Biggest Weighting Significance: Because WULF carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock. WULF Stock Price Activity: TeraWulf shares were up 14.85% at $24.32 at the time of publication on Monday, according to Benzinga Pro data. Photo via Shutterstock Market News and Data brought to you by Benzinga APIs To add Benzinga News as your preferred source on Google, click here.

TeraWulf, IREN Join Anthropic's Club of Former Bitcoin Miners - TeraWulf (NASDAQ:WULF), IREN (NASDAQ:IREN

The common thread isn't cryptocurrency anymore. It is access to the land, electricity and data center capacity that frontier AI companies are racing to secure. The developments suggest Anthropic isn't simply signing isolated infrastructure deals -- it's increasingly turning to a familiar group of companies that already own one of AI's scarcest resources: megawatts. Anthropic's Latest Winners Taken together, the announcements point to a broader pattern rather than two standalone wins. A Club That's Getting Bigger Long before TeraWulf and IREN grabbed headlines, Hut 8 Corp. (NASDAQ:HUT) had already secured its own role in Anthropic's AI ambitions. Last year, Hut 8 partnered with Anthropic and cloud provider Fluidstack to develop hyperscale AI infrastructure. The partnership marked one of the earliest examples of a publicly traded Bitcoin miner pivoting from cryptocurrency toward powering large language models. Now, TeraWulf's blockbuster lease and IREN's project shortlist suggest Anthropic is expanding that playbook rather than reinventing it. That shouldn't come as a surprise. Bitcoin miners spent years building power-intensive operations with access to substations, transmission infrastructure and large-scale energy contracts. These assets have now become increasingly valuable as AI developers race to deploy ever-larger computing clusters. The New AI Currency The market is beginning to value those assets differently. For years, investors judged crypto miners largely on Bitcoin prices and mining efficiency. Increasingly, however, companies with abundant power capacity are being rewarded for something entirely different: their ability to host AI workloads. If Anthropic continues leaning on former Bitcoin miners to expand its infrastructure footprint, TeraWulf and IREN may not be the exceptions -- they could be the latest members of a growing club. For investors, that shifts the question from which miner will produce the most Bitcoin to which one owns the next gigawatt of AI-ready power. Photo courtesy: Shutterstock Market News and Data brought to you by Benzinga APIs To add Benzinga News as your preferred source on Google, click here.

Why is Terawulf stock surging today? By Investing.com

Investing.com -- Terawulf stock surged 17.3% in pre-open trading today after the company disclosed two major corporate actions before the bell: a 20-year AI infrastructure lease agreement with Anthropic at its Justified Data campus in Kentucky, and the concurrent sale of its majority interest in the Abernathy Joint Venture to a Fluidstack-led group. The Anthropic lease covers the Justified Data AI campus in Kentucky and is expected to generate approximately $19 billion in contracted revenue, with the 401 MW site scheduled to phase in from the second half of 2027 through early 2028. In tandem, Terawulf announced it would sell its 50.1% stake in the 168 MW Abernathy Joint Venture to a Fluidstack-led group, monetizing roughly $450 million of invested capital at a premium and freeing capital to expand wholly owned AI infrastructure assets. The Anthropic deal adds a high-profile hyperscaler tenant to what is already a growing roster of contracted customers, further validating Terawulf's infrastructure platform. Terawulf has been transitioning from a bitcoin mining operator into a nuclear-powered AI and HPC infrastructure platform, a shift that became structurally visible in Q1 2026 when HPC revenue of $21 million surpassed bitcoin mining revenue of $13 million for the first time. The Abernathy stake sale is also strategically significant: by monetizing the joint venture at a premium, management is recycling capital into wholly owned assets that carry higher long-term margin potential. The announcement arrives after shares finished the prior session down sharply, having lost approximately 26% over seven consecutive declining sessions since late June. Today's move is clearly company-driven rather than macro-led. The analyst backdrop remains strongly supportive, with the stock carrying an all-Buy consensus from Wall Street -- including recent price target increases from firms such as Morgan Stanley, Bernstein, and Clear Street -- reflecting growing conviction in the company's pivot toward contracted, recurring-revenue AI and HPC data center leasing. On the broader market, the Dow Jones gained while the Nasdaq edged lower in pre-market, meaning the technology-heavy index was actually a modest headwind for growth stocks -- making Terawulf's outsized pre-market advance all the more company-specific. The combination of a transformative new tenant in Anthropic, a capital-accretive asset sale, and a deeply oversold technical setup after a seven-session losing streak converged to produce today's sharp recovery. Terawulf holds over $17 billion in contracted revenue commitments with significant additional capacity still to be commercialized, though execution risk remains as the company must convert those contracts into operating cash flow while managing an aggressive capital spending program. With the Anthropic lease now anchoring the Kentucky campus and the Abernathy proceeds available for redeployment, investors appear to be repricing the stock's risk-reward profile in real time. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.