July 6 (Reuters) - 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 10% in early 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:
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The Anthropic lease covers a purpose-built AI infrastructure campus at TeraWulf's Justified Data site in Hawesville, Kentucky.
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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.
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Separately, TeraWulf agreed to sell its 50.1% stake in the Abernathy joint venture to an investor group led by partner Fluidstack.
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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.
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As of previous close, TeraWulf shares had gained about 85% year to date.
Reporting by Anhata Rooprai and Anzar Mehraj in Bengaluru; Editing by Vijay Kishore and Joyjeet Das
Source: Reuters