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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
07/08/2026

Bernstein Maintains $36 TeraWulf Target After $19B Anthropic Lease

What happened: Bernstein reaffirmed its $36 price target on TeraWulf (WULF) after the company secured a 20-year, $19 billion lease with Anthropic for its Justified Data campus in Kentucky.

Bernstein Maintains $36 TeraWulf Target After $19B Anthropic Lease

What happened: Bernstein reaffirmed its $36 price target on TeraWulf (WULF) after the company secured a 20-year, $19 billion lease with Anthropic for its Justified Data campus in Kentucky. The deal adds 401 MW of AI data center capacity, with initial operations expected in 2027. TeraWulf also sold a majority stake in its Abernathy JV for $530 million, netting an ~18% return.

Why it matters: The Anthropic deal marks a strategic pivot for TeraWulf toward direct customer relationships and full asset ownership, concentrating exposure on a single high-profile AI counterparty. Bernstein's unchanged target suggests the market had already priced in much of the upside, and the company's future now hinges on execution and Anthropic's sustained demand.

Source: The Block