Key facts
- TeraWulf has signed a 20-year lease with Anthropic.
- Anthropic will lease 401 megawatts of computing capacity.
- The computing capacity will be located at TeraWulf's Kentucky campus.
- The deal is expected to generate approximately $19 billion in contracted revenue.
- The projected revenue significantly exceeds TeraWulf's current market value.
- The computing capacity is expected to be deployed over the next decade.
Bitcoin miner TeraWulf has entered into a substantial 20-year lease agreement with AI company Anthropic. The deal involves Anthropic leasing 401 megawatts of computing capacity at TeraWulf's campus located in Kentucky. This agreement is anticipated to generate approximately $19 billion in contracted revenue for TeraWulf over the lease term. The projected revenue significantly surpasses TeraWulf's current market capitalization, highlighting the immense financial scale of the transaction. The deployment of this computing capacity is expected to occur over the next decade. This move by TeraWulf signifies a strategic pivot to leverage the burgeoning demand for energy-intensive computing power driven by artificial intelligence applications. The company is positioning itself to become a key provider of infrastructure for AI development and deployment.