AI firm Anthropic has signed a long-term data center lease deal with Bitcoin miner TeraWulf, a deal that the miner estimates will generate nearly $19 billion in revenue. The miner’s stock has surged by double digits amid this development, bucking the downtrend in the crypto market.
Anthropic Signs Deal With Bitcoin Miner TeraWulf
In a press release, the Bitcoin miner announced that it has executed a 20-year lease agreement with Anthropic at its Justified Data campus in Hawesville, Kentucky. The miner added that it expects to generate nearly $19 billion of contracted revenue over the initial lease term.
Anthropic’s deal with the Bitcoin miner notably comes just as the U.S. government approved Mythos AI rollout to selected organizations. It also comes as the AI firm eyes an initial public offering (IPO) at a valuation of up to $1 trillion.
Meanwhile, TeraWulf stated that the campus will accommodate approximately 401 MW of critical IT load and will be developed in multiple phases. “Initial capacity is expected to be placed into service during the second half of 2027, with the campus ramping to the full 401 MW by early 2028,” the release read.
The Anthropic deal also notably follows TeraWulf’s successful pivot from BTC mining alone, with the firm now providing infrastructure for AI models. The firm is among several BTC miners that have pivoted into the AI industry.
TeraWulf Stock Climbs Double Digits
TeraWulf’s stock has surged over 12% amid the announcement of this deal with Anthropic. The stock is currently trading at around $24, according to TradingView data. WULF is up despite the downtrend in other crypto stocks.
It is worth noting that the stock is also up as TeraWulf announced that it had entered into a definitive agreement to sell its 50.1% ownership interest in the Abernathy Joint Venture to an investor group led by its joint venture partner, Fluidstack.
“The transaction monetizes TeraWulf’s approximately $450 million investment at a premium to invested capital, unlocking significant capital for redeployment into wholly owned AI infrastructure opportunities,” the firm said.
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