TeraWulf Signs $19B AI Lease with Anthropic, Sells Texas Stake
TeraWulf shares surged after announcing a 20-year, $19 billion lease with AI firm Anthropic for its 401 MW Justified Data campus in Hawesville, Kentucky, to power Claude AI infrastructure. The company also sold its 50.1% stake in the Abernathy Joint Venture in Texas to a Fluidstack-led consortium, recycling capital into wholly owned AI projects. The deal marks TeraWulf’s strategic pivot from Bitcoin mining to AI infrastructure, though profit-taking later trimmed gains.
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TeraWulf Stock Falls on $3.5 Billion Debt Plan and New York Data Center Moratorium
TeraWulf (WULF) stock dropped sharply on July 14, 2026, driven by two major developments: the company's plan to raise approximately $3.5 billion in debt to finance a new Kentucky data center campus, and New York Governor Kathy Hochul's executive order imposing a one-year moratorium on environmental permits for new hyperscale data centers. The debt raise, led by Morgan Stanley, will fund the Justified Data campus in Hawesville, Kentucky, anchored by a 20-year lease with Anthropic for 401 megawatts of critical IT load, expected to generate $19 billion in contracted revenue. TeraWulf's Lake Mariner campus in New York faces regulatory uncertainty from the moratorium, though management insists existing permits are unaffected. The stock rebounded slightly on July 15, up about 2%. The article highlights execution risks in TeraWulf's pivot from Bitcoin mining to AI infrastructure.
TeraWulf Plans $3.5 Billion Debt Raise for Kentucky Data Center Campus
TeraWulf Inc. (NASDAQ:WULF) announced plans to raise approximately $3.5 billion in debt, including its first leveraged loan and high-yield bonds, to finance a new data center campus in Kentucky. Morgan Stanley is expected to lead the financing. CFO Patrick Fleury revealed that TeraWulf signed a 20-year lease with AI company Anthropic for the facility, which is projected to generate about $19 billion in revenue. The news follows positive analyst actions: Morgan Stanley raised its price target to $72 with an Overweight rating, and Needham raised its target to $33 with a Buy rating, citing robust demand and an attractive lease. TeraWulf owns, develops, and operates digital infrastructure in the United States.
TeraWulf Plans $3.5B Debt Raise for Kentucky Data Center Campus
TeraWulf Inc. (NASDAQ:WULF) announced plans to raise approximately $3.5 billion in debt, including its first leveraged loan and high-yield bonds, to finance a new data center campus in Kentucky. Morgan Stanley is expected to lead the financing. CFO Patrick Fleury stated the company signed a 20-year lease with Anthropic for the facility, projected to generate about $19 billion in revenue. On July 8, Morgan Stanley analyst Stephen Byrd raised the price target on TeraWulf to $72 from $66.50, maintaining an Overweight rating. Needham analyst John Todaro also raised the price target to $33 from $28, keeping a Buy rating, citing one of the most attractive leases in the sector. The article positions TeraWulf among growth stocks with high upside potential.
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TeraWulf Plans $3.5 Billion Debt Raise for Anthropic AI Data Center
TeraWulf Inc. is reportedly preparing a $3.5 billion debt raise, led by Morgan Stanley, to fund construction at its Justified Data campus in Kentucky. The company has signed a 20-year lease with AI firm Anthropic for approximately 401 megawatts of critical IT capacity at the Hawesville campus, expected to generate about $19 billion in contracted lease revenue. Capacity is scheduled to begin coming online in the second half of 2027, reaching full deployment by early 2028. The project marks TeraWulf's shift beyond bitcoin mining into long-term AI infrastructure. CEO Paul Prager stated the Anthropic agreement validates the company's strategy. TeraWulf previously raised $3.2 billion in October 2025 and $1.3 billion in December 2025 for its data center expansion. The company's stock (WULF) was trading at $22.66 per share.
Google-backed ex-Bitcoin miner TeraWulf reveals $3.5 billion debt raise for AI data center
TeraWulf Inc., a former Bitcoin miner backed by Google, is preparing to raise approximately $3.5 billion in debt to build a new AI data center campus in Kentucky. The company has pivoted from Bitcoin mining to AI infrastructure, signing a 20-year lease with Anthropic PBC for the facility, which is expected to generate $19 billion in contracted revenue. Morgan Stanley is leading the financing, which will combine leveraged loans and high-yield bonds. TeraWulf also sold its 50% stake in a Texas data center to a group led by Fluidstack to fund the expansion. The stock has risen over 80% year-to-date, reflecting investor enthusiasm for the AI pivot.
Profit-Taking Drags Terawulf Shares by 8.87% After AI Deal Rally
Terawulf Inc. (NASDAQ:WULF) shares fell 8.87% on July 7, 2026, closing at $20.24, as investors engaged in profit-taking following an 18.7% surge the previous day. The prior rally was driven by news of a $19 billion, 20-year leasing agreement with AI startup Anthropic to deliver 401 MW of critical IT load, with initial capacity targeted for the second half of 2027. Separately, Terawulf agreed to sell its 50.1% stake in the Abernathy joint venture project in Texas to a group led by Fluidstack, monetizing its $450 million investment at a premium. The Abernathy project aims to develop a 168 MW data center. CEO Paul Prager highlighted the long-duration revenue stream and validation of the company's strategy.
TeraWulf's $19 Billion Anthropic Lease Transforms Bitcoin Miner into AI Infrastructure Landlord
Bitcoin miner TeraWulf (WULF) has signed a landmark 20-year lease with AI company Anthropic for a 401 MW data center campus in Hawesville, Kentucky, securing approximately $19 billion in contracted revenue—exceeding its $12 billion market cap. The deal, at its Justified Data site, will power Anthropic's Claude AI infrastructure, with initial capacity online by H2 2027 and full buildout by early 2028. The capital requirement is estimated at $3.2-$4 billion. Concurrently, TeraWulf is selling its 50.1% stake in the Abernathy Joint Venture (a 168 MW AI data center project in Texas) to Fluidstack at a premium, recycling capital into wholly owned infrastructure. The article analyzes how this shifts TeraWulf's valuation from a bitcoin proxy to an infrastructure REIT, noting the market's cautious reaction (shares rose 19% intraday but closed +4%) reflects execution risk. The 20-year lease structure fundamentally changes the company's earnings profile from volatile mining rewards to predictable, long-duration revenue.
How TeraWulf’s Anthropic Deal Booted Up a $19B AI Empire
TeraWulf Inc. signed a landmark 20-year lease with AI company Anthropic, expected to generate approximately $19 billion in contracted revenue. The deal centers on the Justified Data campus in Hawesville, Kentucky, a 401-megawatt facility designed for high-performance computing. To fund the buildout without diluting shareholders, TeraWulf sold its 50.1% stake in the Abernathy Joint Venture to a Fluidstack-led group for $450 million, recycling capital into the wholly owned project. This strategic shift from Bitcoin mining to AI infrastructure highlights the growing demand for energy-intensive data centers. Institutional ownership is high, but elevated short interest leaves the stock exposed to sharp moves.
Terawulf Stock Surges on $19 Billion AI Lease Deal with Anthropic
Terawulf (WULF) stock rose sharply on July 6, 2026, after announcing a landmark 20-year lease agreement with AI research lab Anthropic, valued at $19 billion in contracted revenue. The deal solidifies Terawulf's pivot from Bitcoin mining to AI and high-performance computing. Anthropic will occupy a purpose-built AI campus at Terawulf's Hawesville, Kentucky facility, which supports 401 megawatts of IT load, with initial capacity online by late 2027 and full capacity by early 2028. Investors also reacted positively to Terawulf's sale of its 50.1% stake in the Abernathy joint venture in Texas, returning its $450 million investment at a premium and freeing capital for wholly owned AI projects. Despite a 25% drop from recent highs, WULF shares are up 70% year-to-date, and Wall Street maintains a 'Strong Buy' consensus with a mean price target of $35.58, implying nearly 60% upside.
TeraWulf Shares Surge After Anthropic Lease and Abernathy Stake Sale
TeraWulf Inc. shares surged 20% on Monday following two major announcements. The company signed a 20-year lease agreement with Anthropic for its Justified Data campus in Hawesville, Kentucky, expected to generate approximately $19 billion in contracted revenue. The campus will support 401 megawatts of critical IT capacity, with the first phase operational by late 2027 and full capacity by early 2028. Separately, TeraWulf sold its 50.1% stake in the Abernathy Joint Venture in Texas to a consortium led by Fluidstack, realizing a premium on its $450 million investment. CEO Paul Prager stated the Anthropic deal creates a durable revenue stream, while the Abernathy sale unlocks capital for reinvestment in core infrastructure assets where TeraWulf retains direct ownership and operational control.