TeraWulf jumps on $19 billion data center lease deal with Anthropic

July 6 (Reuters) - TeraWulf ‌said on ​Monday ​it signed a 20-year lease with Anthropic for data center infrastructure, a ‌deal expected to generate about $19 billion in ⁠contracted revenue, sending the bitcoin miner's shares up more ‌than 10% in early ‌trading.

The deal secures long-term, recurring revenue for TeraWulf from an AI customer as it shifts ​away from relying on bitcoin mining, a transition the company said in May would ⁠increasingly drive its business.

Here are some details:

• The Anthropic lease covers ​a purpose-built AI infrastructure campus at TeraWulf's Justified Data site in Hawesville, Kentucky.

• ​The campus will support ‌about 401 megawatts of critical IT load, with initial capacity expected online ⁠in the second half of 2027 and full capacity by early 2028.

• Separately, TeraWulf agreed to sell ⁠its 50.1% stake in the Abernathy joint venture to ​an investor group led by partner Fluidstack.

• The sale monetizes TeraWulf's roughly $450 million investment at a premium to ‌invested capital and frees up capital for wholly owned AI infrastructure projects.

• ‌As of previous close, TeraWulf shares had gained ⁠about 85% year ‌to date.

(Reporting by ​Anhata Rooprai and Anzar Mehraj in Bengaluru; Editing by Vijay Kishore and Joyjeet ‌Das)

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