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07/07/2026

TeraWulf Signs 20-Year, $19B Data Center Lease With Anthropic

What happened: TeraWulf entered a 20-year lease with AI firm Anthropic for its Justified Data campus in Kentucky, providing 401 MW of critical IT load.

TeraWulf Signs 20-Year, $19B Data Center Lease With Anthropic

What happened: TeraWulf entered a 20-year lease with AI firm Anthropic for its Justified Data campus in Kentucky, providing 401 MW of critical IT load. The contract is expected to generate $19 billion in revenue over the initial term, with two optional five-year renewals. Initial capacity is set for the second half of 2027, with full deployment by early 2028. TeraWulf also sold its 50.1% stake in a Texas joint venture for $530 million to focus on wholly-owned AI infrastructure. WULF stock surged 17% on the announcement.

Why it matters: The deal highlights the growing intersection of AI and energy infrastructure, as large-scale AI workloads drive demand for specialized data centers. The $19 billion headline figure reflects contracted revenue over 20 years, not immediate cash flow, but signals long-term confidence in AI compute demand. TeraWulf's divestment from its Texas JV to double down on AI infrastructure marks a strategic pivot away from traditional mining toward higher-margin, future-proof business lines.

Source: The Block