Key facts
- TeraWulf signed a 20-year data center lease with AI company Anthropic.
- The lease is expected to generate approximately $19 billion in contracted revenue for TeraWulf.
- The new AI data center campus will be located in Hawesville, Kentucky, and is designed for 401 MW of IT capacity.
- TeraWulf is selling its 50.1% stake in the Abernathy joint venture to a Fluidstack-led investor group.
- The sale of the joint venture stake is expected to monetize TeraWulf's $450 million investment and fund new AI infrastructure projects.
Bitcoin miner TeraWulf is expanding into AI infrastructure with a significant 20-year data center lease agreement with AI company Anthropic, projected to generate approximately $19 billion in contracted revenue. This deal aims to provide TeraWulf with long-term, recurring revenue streams beyond its core bitcoin mining operations.
The new AI infrastructure campus will be built at TeraWulf's Justified Data site in Hawesville, Kentucky, designed to support 401 megawatts of critical IT load. Initial operations are expected in the second half of 2027, with full buildout targeted for early 2028.
In a separate strategic move, TeraWulf is selling its 50.1% stake in the Abernathy joint venture, an AI data center project in Texas, to an investor group led by its partner, Fluidstack. The company anticipates this sale will monetize its roughly $450 million investment and allow it to reinvest capital into wholly owned AI infrastructure projects.
The announcement follows a period of substantial growth for TeraWulf, with its shares already up approximately 107% year-to-date prior to this news.