TeraWulf Secures $19 Billion Lease with Anthropic, Boosting Bitcoin Mining Stocks

The company is also divesting its 50.1% stake in the Abernathy Joint Venture to a consortium led by Fluidstack, realizing approximately $450 million at a premium.

Bitcoin mining equities opened higher on Monday, with TeraWulf and IREN posting the strongest gains.

TeraWulf is making a substantial bet on artificial intelligence by entering into a 20‑year lease with Anthropic, projected to generate roughly $19 billion in revenue and to divest its remaining interest in a Texas data‑center venture.

Shares of TeraWulf (WULF) surged to $24.05, up roughly 14% on the day.

The development has bolstered confidence among other Bitcoin mining firms expanding into AI workloads, with IREN gaining over 13%, Hut 8 up 12%, Cipher Digital up 11%, and Keel Infrastructure—formerly Bitfarms—rising 10% as it pivots to AI.

The Maryland‑based firm, historically focused on Bitcoin mining, is transitioning to AI infrastructure amid rising demand for compute power to train large language models. Anthropic, the developer of the Claude chatbot, is among several leading companies competing for long‑term power and data‑center capacity as it expands its models.

Separately, TeraWulf agreed to sell its 50.1% stake in the Abernathy Joint Venture—a Texas data‑center development partnered with Fluidstack—to an investor group headed by Fluidstack. The deal realizes approximately $450 million from TeraWulf’s investment at a premium and hands operational control of the project to Fluidstack.

“When we disclosed the acquisition of the Justified Data campus in February, we indicated that a major customer commitment would be secured by the close of the second quarter of 2026,” said Paul Prager, TeraWulf’s Chairman and CEO, in a statement. “The timing of this announcement reflects the completion of final documentation and standard transaction steps, and we are proud to announce this landmark partnership with Anthropic.”

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