TeraWulf, a bitcoin miner that has remade itself into an AI landlord, signed a 20-year lease with Anthropic to host the AI company at a Kentucky data center, sending its shares up as much as 19% on Monday before they settled to a gain of about 4%.
According to the firm, the lease covers TeraWulf’s Justified Data facility in Hawesville, Kentucky, which will offer around 401 megawatts of computing capacity built up in phases. The first power is anticipated in the second half of 2027, and the entire site will be operational by early 2028.
Supported by what it called an investment-grade credit, TeraWulf anticipates that the arrangement will provide around $19 billion in committed revenue during its initial period.
That amount is greater than the corporation as a whole. TeraWulf has a market value of about $12 billion, so the lease represents more future revenue than the entire company is presently worth. This shows how dramatically the AI buildout is changing the economics of businesses that used to just mine bitcoin. This year, the stock has increased by almost 80%.
Today, TeraWulf announced two strategic transactions that significantly advance our AI infrastructure strategy:
👉 A 20-year lease with @AnthropicAI at our Justified Data Campus
👉 The sale of our 50.1% ownership interest in the Abernathy Joint Venture to an investor group led…— TeraWulf (@TeraWulfInc) July 6, 2026
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