Terawulf Inc (NASDAQ:WULF) is up 7.5% to trade at $22.74 this afternoon, set to snap a seven-day losing streak, thanks to its newly penned deal with Anthropic.
TeraWulf (NASDAQ:WULF) shares rose 13% on Monday after the company announced a long-term artificial intelligence infrastructure lease with Anthropic alongside the sale of a majority stake in a joint venture, moves that significantly expand contracted revenue while recycling capital into new development projects. The digital infrastructure company said it has signed a 20-year lease agreement with Anthropic for capacity at its Justified Data Campus in Hawesville, Kentucky.
The deal “validates” the crypto-mining company's pivot to supporting the AI buildout, its CEO said.
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 16% in premarket trading.
Shares of AI infrastructure developer TeraWulf WULF jumped more than 17% in premarket trading on Monday after Anthropic signed a 20-year lease for a large-scale data center in Kentucky. The agreement is expected to generate approximately $19 billion in revenue over its initial term and further strengthens TeraWulf's position as one of several former Bitcoin miners capitalizing on booming demand for AI computing capacity.
TeraWulf will partner with Anthropic to build an artificial-intelligence infrastructure campus in Kentucky that could generate $19 billion in revenue.
TeraWulf stock rises sharply after the data-center operator announces a 20-year lease agreement with AI start-up Anthropic.
The data center will have capacity of around 400 megawatts with first power delivery expected in the second half of 2027. The lease is initially expected to generate around $19 billion in revenue.
TeraWulf (WULF) is executing a power-first, HPC-focused strategy, with Q1 marking the inflection as HPC lease revenue surged 117% sequentially. WULF's platform now delivers over 60% of revenue from HPC leases, supported by a $13B+ contracted backlog and 85% segment margin, highlighting structural differentiation. Balance sheet strength is evident with $3.1B in cash, 82% of WULF Compute capex secured, and disciplined capital recycling supporting rapid multi-site expansion.
TeraWulf (NASDQ:WULF) shares rose 8% after Bank of America initiated coverage of the company with a Buy rating and a $34 price objective, citing its transition from bitcoin mining to AI-focused high-performance computing infrastructure as a key value driver. Analysts said TeraWulf is developing digital infrastructure to meet surging AI demand, with a pipeline expected to reach between 1.8 and 3 gigawatts of critical IT load capacity by 2030.
TeraWulf (WULF) has pivoted from crypto mining to high-performance computing, driving a 600%+ share price surge in the last year. The recent Kentucky hyperscale acquisition is set to add over 1 GW of Data Center capacity, accelerating WULF's revenue ramp and market positioning. TeraWulf saw its first quarter in Q1'26 in which its HPC segment generated larger revenues than its legacy cryptocurrency mining business.
The artificial intelligence (AI) revolution isn't being built on silicon alone; it's being built on the electric grid. As hyperscale cloud providers and AI developers race to deploy next-generation computing, they are colliding with a hard physical limit: power.