TeraWulf jumps on $19 billion data center lease deal with Anthropic
· CNA · JoinRead a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST Tap here to return to FAST
FAST
July 6 : 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 per cent in premarket trading.
The deal secures long-term, recurring revenue for TeraWulf from an AI customer as it shifts away from relying on bitcoin mining, a transition the company said in May would increasingly drive its business.
Here are some details:
• The Anthropic lease covers a purpose-built AI infrastructure campus at TeraWulf's Justified Data site in Hawesville, Kentucky.
CNA Games
Guess Word
Crack the word, one row at a time
Buzzword
Create words using the given letters
Mini Sudoku
Tiny puzzle, mighty brain teaser
Mini Crossword
Small grid, big challenge
Word Search
Spot as many words as you can
Show More
Show Less
• The campus will support about 401 megawatts of critical IT load, with initial capacity expected online in the second half of 2027 and full capacity by early 2028.
• Separately, TeraWulf agreed to sell its 50.1 per cent stake in the Abernathy joint venture to an investor group led by partner Fluidstack.
• The sale monetizes TeraWulf's roughly $450 million investment at a premium to invested capital and frees up capital for wholly owned AI infrastructure projects.
• As of previous close, TeraWulf shares had gained about 85 per cent year to date.
Newsletter
Week in Review
Subscribe to our Chief Editor’s Week in Review
Our chief editor shares analysis and picks of the week's biggest news every Saturday.
Sign up for our newsletters
Get our pick of top stories and thought-provoking articles in your inbox
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app