Investing.com -- TeraWulf Inc. (NASDAQ: WULF) shares rose 20% Monday following the announcement of a 20-year lease agreement with Anthropic at its Justified Data campus and the sale of its majority stake in the Abernathy Joint Venture to Fluidstack.

The company executed a 20-year lease with Anthropic for a purpose-built AI infrastructure campus in Hawesville, Kentucky. The lease is expected to generate approximately $19 billion of contracted revenue over the initial term and will be supported by an investment-grade credit, according to the press release.

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 full capacity by early 2028.

Separately, TeraWulf entered into a definitive agreement to sell its 50.1% ownership interest in the Abernathy Joint Venture to an investor group led by Fluidstack. The transaction monetizes TeraWulf’s approximately $450 million investment at a premium to invested capital.

The Abernathy Joint Venture was established in 2025 to develop a 168 MW critical IT load AI data center campus in Abernathy, Texas. Following the closing of the transaction, Fluidstack will continue leading the project.

Paul Prager, Chairman and Chief Executive Officer of TeraWulf, said the Anthropic lease validates the company’s strategy and establishes a long-duration revenue stream with one of the world’s leading AI companies. He added that the sale of the Abernathy ownership interest crystallizes the value created through that investment and generates capital for redeployment into infrastructure platforms where TeraWulf maintains direct ownership, customer relationships, and operational control.