TL;DR:
- TeraWulf signed a 20-year lease agreement with Anthropic projected to generate approximately $19 billion in revenue.
- The deal includes an AI infrastructure campus in Hawesville, Kentucky, with a capacity of 401 MW of critical IT load.
- WULF shares are up more than 117% year-to-date and jumped 17% on Monday alone.
TeraWulf closed a 20-year lease agreement with Anthropic, the artificial intelligence company founded by former OpenAI researchers, projected to generate approximately $19 billion in revenue over the term of the contract. The announcement triggered a surge in WULF shares, which climbed 17% on the day, bringing year-to-date gains to more than 117%.
The agreement includes the development of a purpose-built AI infrastructure campus at TeraWulf’s Justified Data site in Hawesville, Kentucky, on the outskirts of Louisville. The project will be executed in phases: initial services are scheduled for the second half of 2027, with a target capacity of 401 MW of critical IT load by early 2028, a significant volume for large-scale model training operations.
Today, TeraWulf announced two strategic transactions that significantly advance our AI infrastructure strategy:
👉 A 20-year lease with @AnthropicAI at our Justified Data Campus
👉 The sale of our 50.1% ownership interest in the Abernathy Joint Venture to an investor group led…— TeraWulf (@TeraWulfInc) July 6, 2026
Sales and Strategic Refocus for TeraWulf
Separately, TeraWulf announced the sale of its 50.1% stake in a joint venture campus located in Abernathy, Texas, established in 2025 alongside partner Fluidstack. The company indicated that the proceeds will be redirected toward other wholly owned AI infrastructure investments, consistent with a strategy that prioritizes direct control over assets, customer relationships and data center operations.
“Together, the transactions improve TeraWulf’s long-term revenue, strengthen its financial position and further align the company’s capital with infrastructure platforms where it maintains direct ownership, customer relationships and operational control,” the official statement reads.
Miners Migrate Toward AI
TeraWulf’s transition reflects the current mainstream direction of the industry: virtually all major bitcoin miners have begun incorporating business lines tied to artificial intelligence as a source of recurring and predictable revenue. The surge in computational demand driven by AI has accelerated data center construction globally, and mining companies, which already operate large-scale energy infrastructure, moved quickly to capitalize on that demand.
