TeraWulf Stock Jumps As Anthropic Deal Recasts Bitcoin Miner In $19B AI Pivot

TeraWulf shares rose Jul. 6 after Anthropic agreed to a long-term AI infrastructure lease expected to bring in about $19 billion.

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TeraWulf And Anthropic

TeraWulf said Anthropic signed a 20-year lease at its Justified Data campus in Hawesville, Kentucky, giving the company a major customer for a site built around high-power AI computing.

The agreement covers about 401 megawatts of critical IT load, with initial capacity expected in the second half of 2027 and full capacity expected by early 2028.

The announcement pushed TeraWulf shares higher during Jul. 6 trading.

The stock recently traded at $22.74 around midday, up about 7.3%, after opening at $24.21 and reaching an intraday high of $25.04.

The deal also gives investors a clearer reason to value TeraWulf as a data-center infrastructure operator, not only as a company once tied closely to Bitcoin (BTC) mining.

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AI Revenue

TeraWulf said the Anthropic lease supports its push into infrastructure platforms where it owns assets, manages customer ties and controls operations. The company described the deal as validation of its strategy and a source of long-duration revenue from one of the world’s leading AI companies.

The company also announced a separate agreement to sell its 50.1% stake in the Abernathy Joint Venture to a Fluidstack-led investor group. TeraWulf said the sale would monetize about $450 million of invested capital and free up funds for wholly owned AI infrastructure projects.

The market reaction shows investors are willing to reward the pivot, but the contract will not translate into full revenue immediately. Construction, power delivery, project costs and operating execution will remain the main tests before the Kentucky site reaches full scale.

TeraWulf’s shift has been building for months as former crypto-mining operators seek more stable demand from AI customers. The Anthropic lease gives that transition a defined timeline, with the first major capacity target set for late 2027 and the full 401-megawatt ramp expected in early 2028.

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