TeraWulf shares rise after $19B Anthropic AI lease, JV sale
TeraWulf is expanding deeper into AI infrastructure with a 20-year data center lease to Anthropic that could generate about $19 billion in contract revenue. The lease covers a purpose-built AI campus at its Justified Data site in Hawesville, Kentucky, with 401 MW of critical IT capacity, initial operations expected in late 2027 and full buildout in early 2028. The company also plans to sell its 50.1% stake in the Abernathy AI data center joint venture in Texas to an investor group led by Fluidstack, expecting to recover about $450 million and reinvest it in wholly owned AI infrastructure projects. Shares rose about 12% on the news, extending a strong year-to-date gain. The move reflects how Bitcoin miners are shifting into AI/HPC as demand for data center power and capacity outpaces supply.
