Anthropic · Bitcoin · CoinDesk
Bitcoin miner TeraWulf rallies on a $19 billion AI data-center lease with Anthropic
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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%.
Key facts
- The lease covers TeraWulf's Justified Data campus in Hawesville, Kentucky, which will provide about 401 megawatts of computing capacity built out in phases, with the first power expected
- TeraWulf expects the deal to generate roughly $19 billion in contracted revenue over its initial term, backed by what it described as an investment-grade credit
- TeraWulf carries a market value around $12 billion, so the lease represents more than the whole business is currently worth in future revenue
- a measure of how much the AI buildout is reshaping
- The deal fits a rotation CoinDesk has tracked all year
Summary
TeraWulf shares jumped after the former bitcoin miner signed a 20-year lease with Anthropic to provide about 401 megawatts of AI data-center capacity at its Justified Data campus in Hawesville, Ky., starting in 2027. The Anthropic deal is expected to generate roughly $19 billion in contracted revenue over its initial term, exceeding TeraWulf’s roughly $12 billion market value and underscoring how AI hosting is reshaping the economics of former crypto miners. TeraWulf will sell its 50.1% stake in a Texas data-center joint venture for about $530 million as part of a broader industry shift, with bitcoin miners unloading coins and infrastructure to pursue steadier AI-computing contracts even as bitcoin prices soften.