In short
- TeraWulf signed a 20-year contract with Anthropic for a ~401 MW AI data center campus in Hawesville, Kentucky, which is expected to generate ~$19 billion in revenue.
- The company is also selling its 50.1% stake in the Abernathy Joint Venture to a group led by its partner Fluidstack, freeing up its capital ~$450 million for the fee.
- Bitcoin mining stocks are the biggest on Monday, led by TeraWulf and IREN.
Bitcoin miner TeraWulf is betting big on artificial intelligence, surprisingly 20 year lease and Anthropic which the company says could bring in as much as $19 billion when it divests part of its stake in a separate Texas data center project.
Shares in TeraWulf (WULF) rose after the announcement, recently trading at $24.05 – a nearly 14% jump on the day.
However, the move seems to have boosted confidence in the Bitcoin mining industry that leans heavily on AI computing, with IREN sharing more than 13%, Hut 8 to 12%, and Cipher Digital rising 11%. Keel Infrastructure (formerly Bitfarms), which was rebranded as they stopped mining Bitcoin completely focus on AI, and increase by 10% per day.
Under the deal announced Monday, Anthropic will have a purpose-built campus at TeraWulf’s Justified Data facility in Hawesville, Ky., a facility expected to support about 401 megawatts of computing power. The first phase is expected to come online in the second half of 2027, with the facility arriving by 2028.
The Maryland-based company, previously known for Bitcoin mining, has been focusing on AI architecture as demand for computing power used to teach large-scale languages has grown. Anthropic, the AI company behind the Claude chatbot, is one of the big players scrambling to secure long-term energy and data centers as it expands its brands.
Separately, TeraWulf has agreed to sell its 50.1% stake in the Abernathy Joint Venture – a Texas-based data center project developed by partner Fluidstack – to an investment group led by Fluidstack. The transaction will net TeraWulf approximately $450 million in acquisition costs. Fluidstack will take the leadership of this project forward.
“When we announced the availability of the Justified Data campus in February, we told investors that we expected a significant customer commitment by the end of the second quarter of 2026,” said TeraWulf President and CEO Paul Prager, in a statement. “The timing of today’s announcement marks the completion of the final documents and milestones, and we are proud to announce this landmark partnership with Anthropic.”
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