TeraWulf signs 20-year Anthropic lease, sells Abernathy stake

TeraWulf Inc. (Nasdaq: WULF) announced two transactions on July 6, 2026: a 20-year lease agreement with Anthropic at its Justified Data campus in Hawesville, Kentucky, and the sale of its 50.1% ownership interest in the Abernathy Joint Venture to an investor group led by Fluidstack.

The Anthropic lease covers a purpose-built AI infrastructure campus expected to accommodate approximately 401 MW of critical IT load, developed in multiple phases. Initial capacity is expected to come online in the second half of 2027, with the campus reaching full capacity by early 2028. The lease is expected to generate approximately $19 billion in contracted revenue over its initial term and is described as being supported by an investment-grade credit.

The Abernathy Joint Venture was established in 2025 to develop a 168 MW critical IT load AI data center campus in Abernathy, Texas. TeraWulf said it will sell its entire stake to a Fluidstack-led investor group, monetizing an approximately $450 million investment at a premium to invested capital. Fluidstack will continue leading the project after closing.

Paul Prager, Chairman and Chief Executive Officer of TeraWulf, said the Anthropic lease "validates our strategy and establishes a long-duration revenue stream" and that the Abernathy sale "crystallizes the value created through that investment and generates significant capital for redeployment."

TeraWulf said proceeds from the Abernathy sale will be redeployed into wholly owned AI infrastructure opportunities. The company noted the Abernathy divestiture will also eliminate joint venture accounting from its financial statements.

The information is based on a press release issued by TeraWulf.

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