Bitcoin Mining Stocks Jump After TeraWulf Signs $19 Billion Lease With Anthropic

Bitcoin miner TeraWulf is making a big bet on artificial intelligence, which is striking a 20 year lease with Anthropic saying the company could bring in about $19 billion in revenue while divesting some of its stake in a separate data center project in Texas.

Shares in TeraWulf (WULF) rose after the announcement, recently trading at $24.05 – up almost 14% on the day.

However, the move appears to have boosted confidence among a slew of Bitcoin mining companies increasingly focused on AI computing, with IREN shares up more than 13%, Hut 8 up 12% and Cipher Digital up 11%. Keel Infrastructure (formerly Bitfarms), which was rebranded and has completely abandoned Bitcoin mining to focus on AI also rose 10% on the day.

Under the deal announced Monday, Anthropic will occupy a purpose-built campus at TeraWulf’s Justified Data site in Hawesville, Kentucky, a facility that is expected to ultimately support approximately 401 megawatts of computing capacity. The first phase is expected to come online in the second half of 2027, with the site reaching full capacity in early 2028. TeraWulf said the lease is expected to be backed by an investment grade credit rating.

The Maryland-based company, historically known for Bitcoin mining, is focusing on AI infrastructure as demand for computing power used to train large language models has skyrocketed. Anthropic, the AI ​​company behind the Claude chatbot, is one of several major players racing to secure long-term power and data center capacity as it scales up its models.

In a separate move, TeraWulf agreed to sell its 50.1% stake in the Abernathy Joint Venture – a Texas data center project developed with partner Fluidstack – to an investor group led by Fluidstack. The transaction generates income from TeraWulf’s investment of approximately $450 million, at a premium to the capital invested. Fluidstack will take over management of the project in the future.

“When we announced the acquisition of the Justified Data campus in February, we told investors that we expected to secure significant customer engagement by the end of the second quarter of 2026,” Paul Prager, chairman and CEO of TeraWulf, said in a statement. “The timing of today’s announcement reflects the completion of final documentation and customary transaction processes, and we are proud to announce this groundbreaking collaboration with Anthropic.”