TeraWulf signs 20-year data center lease with Anthropic expected to generate $19 billion in revenue

TeraWulf has signed a 20-year lease agreement with Anthropic that is expected to generate approximately $19 billion in revenue, according to an announcement on Monday.

TeraWulf's stock (WULF) is up over 17% on the day, according to The Block's equities price page.

Nearly all bitcoin miners have begun adding AI-related business lines as a way to generate consistent and predictable revenue amid a data center boom caused by AI’s intense compute needs.

TeraWulf's agreement with Anthropic is for a "purpose-built AI infrastructure campus" at its Justified Data site in Hawesville, Kentucky, outside of Louisville, which will be developed in phases.

Initial services are expected to begin in the second half of 2027 and ultimately deliver 401 MW of critical IT load, a significant amount for AI training, by early 2028.

Separately, TeraWulf has agreed to sell its 50.1% ownership interest in a joint venture campus in Abernathy, Texas, established in 2025. The deal, with joint venture partner Fluidstack, allows TeraWulf to monetize its stake to redeploy into"wholly owned AI infrastructure opportunities."

"Collectively, the transactions enhance TeraWulf’s long-term revenue visibility, 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 announcement reads. 

WULF shares are up over 117% year-to-date as of Monday morning.