TeraWulf signs $19 billion AI data center lease with Anthropic in major Bitcoin mining pivot
8 Sources
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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
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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
[3]
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
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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
[5]
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
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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
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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
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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
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Bitcoin miner TeraWulf has secured a 20-year lease agreement with Anthropic worth $19 billion in contracted revenue, marking one of the industry's largest pivots from cryptocurrency mining to AI infrastructure. The deal covers a purpose-built AI data center campus in Kentucky, while TeraWulf sells its Texas joint venture stake to finance the transition.
TeraWulf Secures Landmark Deal with Anthropic
Bitcoin miner TeraWulf announced a 20-year lease agreement with Anthropic on Monday, a deal expected to generate approximately $19 billion in contracted revenue over two decades
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. The announcement sent TeraWulf shares surging more than 12% in early trading, with the stock trading at $24.05, extending a roughly 85% to 107% year-to-date gain3
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. This TeraWulf Anthropic deal represents one of the most significant transitions from Bitcoin mining to AI infrastructure in the cryptocurrency sector.
Source: Cointelegraph
Purpose-Built AI Data Center Campus Takes Shape
Under the AI data center lease, Anthropic will occupy a purpose-built AI data center campus at TeraWulf's Justified Data site in Hawesville, Kentucky
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. The facility is designed to support approximately 401 megawatts of computing capacity, with initial operations expected to commence in the second half of 2027 and full buildout targeted for early 20283
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. TeraWulf Chairman and CEO Paul Prager noted that when the company announced the Justified Data campus acquisition in February, they expected to secure a major customer commitment by around the end of the second quarter of 20263
.Anthropic's Payment Obligations Raise Questions
While the deal appears substantial, Anthropic has never turned a profit in its short life, despite capturing significant investor attention
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. 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 credit1
. This means Anthropic's ability to make rent will depend on its ability to continue raising capital investment. The AI startup confidentially filed for an IPO early last month and is widely expected to make its debut on Wall Street this fall1
.
Source: The Register
TeraWulf Exits Abernathy Joint Venture
In a parallel transaction, TeraWulf agreed to sell its 50.1% stake in the Abernathy joint venture to an investor group led by partner Fluidstack
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. The sale monetizes TeraWulf's roughly $450 million investment at a premium to invested capital, freeing up resources for wholly owned AI infrastructure projects4
. The joint venture was established last year to develop a 168-megawatt data center in Abernathy, Texas1
.Related Stories
Broader Bitcoin Mining Stocks Rally on AI Momentum
The announcement boosted confidence across Bitcoin mining stocks, with IREN shares climbing more than 13%, Hut 8 up 12%, and Cipher Digital rising 11%
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. Keel Infrastructure, formerly Bitfarms, which rebranded and exited Bitcoin mining entirely to focus on AI, also gained 10%3
. This reflects surging demand for AI compute power as training and running large AI models requires data centers with high-performance computing chips, advanced cooling systems, and access to large amounts of reliable electricity4
.Industry Faces Massive Capital Requirements
The pivot from Bitcoin mining to AI comes with significant financial demands. Blocksbridge Consulting estimated in June that public Bitcoin miners pursuing AI infrastructure may need roughly $50 billion in near-term capital, as AI data center facilities require far greater investment than traditional Bitcoin mining operations
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. TeraWulf could find itself in a precarious position should the AI bubble burst and Anthropic's ability to secure capital necessary to make rent evaporate, though its exposure remains relatively small compared to the $300 billion Oracle has committed to AI builds1
. The deal secures long-term infrastructure revenue for TeraWulf as it shifts away from relying on cryptocurrency mining, a transition the company said in May would increasingly drive its business2
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Source: Benzinga
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