TeraWulf signed a 20-year lease to host Anthropic at its Kentucky data center campus, a deal expected to bring about $19 billion in contracted revenue. The agreement highlights how bitcoin miners are shifting power and infrastructure toward AI computing as mining economics remain volatile.
TeraWulf signed a 20-year lease to host Anthropic at its Kentucky data center campus, a deal expected to bring about $19 billion in contracted revenue. The agreement highlights how bitcoin miners are shifting power and infrastructure toward AI computing as mining economics remain volatile.
The development matters because it shows how crypto mining infrastructure is increasingly being repurposed for artificial intelligence workloads. TeraWulf expects the Anthropic lease to generate roughly $19 billion in contracted revenue over its initial term, a figure CoinDesk noted is larger than the company’s roughly $12 billion market value.
TeraWulf shares rose Monday after the former pure-play bitcoin miner signed a 20-year lease with Anthropic to provide AI data center capacity at its Justified Data campus in Hawesville, Kentucky. The stock climbed as much as 19% during the session before finishing with a gain of about 4%, according to CoinDesk.
The development matters because it shows how crypto mining infrastructure is increasingly being repurposed for artificial intelligence workloads. TeraWulf expects the Anthropic lease to generate roughly $19 billion in contracted revenue over its initial term, a figure CoinDesk noted is larger than the company’s roughly $12 billion market value.
Under the agreement, the Kentucky site will provide about 401 megawatts of computing capacity, built out in phases. TeraWulf said first power is expected in the second half of 2027, with the full site scheduled to be running by early 2028.
The company started as a bitcoin miner, a business tied closely to bitcoin prices, power costs and mining rewards. CoinDesk said margins tightened after last year’s halving cut the mining reward in half, while long-term AI hosting contracts can offer steadier income from a single tenant.
TeraWulf also said it will sell its entire 50.1% stake in the Abernathy data center joint venture in Texas to a group led by partner Fluidstack for about $530 million. The company said the move monetizes roughly $450 million of invested capital at a premium and frees cash for data centers it owns outright.
The deal fits a broader shift among bitcoin miners tracked by CoinDesk this year, with miners selling coins and signing large AI computing contracts. Bitcoin itself was softer on Monday, slipping toward $61,900, underscoring the contrast between crypto mining’s market exposure and the appeal of contracted AI infrastructure revenue.
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