TeraWulf stock jumps 16% on $19 billion Anthropic lease for AI data center in Kentucky

Anthropic has signed a 20-year lease for a TeraWulf data center in Hawesville, Kentucky, sending the crypto miner's shares surging over 16% in premarket trading. The facility will have 400 megawatts of capacity, with first power expected in the second half of 2027, according to CNBC. The deal is projected to generate approximately $19 billion in revenue for TeraWulf over the initial term.

TeraWulf, originally a crypto mining company, has been pivoting to AI infrastructure. MarketWatch reported that the deal "validates" the company's strategic shift. TeraWulf's CEO said the agreement confirms the company's move toward supporting the AI buildout, according to MarketWatch.

MarketWatchTeraWulf’s stock surges after a $19 billion deal with Anthropic

"The deal 'validates' the crypto-mining company's pivot to supporting the AI buildout, its CEO said."

This massive lease underscores the growing demand for data center capacity driven by artificial intelligence companies. Anthropic's commitment to a 20-year term signals long-term confidence in TeraWulf's infrastructure as the AI sector expands rapidly, as noted by CNBC. The stock surge reflects investor optimism about TeraWulf's new direction beyond cryptocurrency mining.

Combined with the $19 billion revenue projection, this deal positions TeraWulf as a key player in the AI infrastructure space. The company's pivot appears to be paying off handsomely, with the Kentucky facility set to become a major hub for Anthropic's computational needs.