Bitcoin miner TeraWulf pivots to AI with $19 billion Anthropic data-center lease

Shaurya Malwa

10h ago· 2 min readenNews

technology artificial intelligence business cryptocurrency

Summary

TeraWulf, originally a bitcoin miner, has signed a 20-year, $19 billion lease deal with AI company Anthropic to host AI computing at a Kentucky campus. This marks a strategic pivot from the volatile economics of crypto mining to the steadier income of AI infrastructure hosting. The company will also sell its majority stake in the Abernathy data center, signaling a broader shift in the crypto-adjacent industry toward AI.

Source

bskyBitcoin miner TeraWulf pivots to AI with $19 billion Anthropic data-center leasecoindesk.com

Key quotes

· 3 pulled

TeraWulf began as a bitcoin miner, running warehouses of specialized computers to earn newly issued coins, a business whose margins tightened after last year's halving cut the mining reward in half.

Like several of its peers, it has pointed its power capacity and sites at hosting AI computing instead, where a single tenant on a long lease offers steadier income than the volatile economics of mining.

The company still runs a bitcoin operation, but the Anthropic lease and its wider pipeline may now define its value.

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The onetime pure bitcoin miner signed a 20-year deal to host the AI firm at a Kentucky campus, the latest crypto-adjacent company to trade mining for the steadier money in artificial-intelligence infrastructure.

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