TeraWulf Jumps 16% After Anthropic Signs 20-Year Kentucky Data Center Lease
Updated
Updated · CNBC · Jul 6
TeraWulf Jumps 16% After Anthropic Signs 20-Year Kentucky Data Center Lease
3 articles · Updated · CNBC · Jul 6
Summary
TeraWulf shares rose more than 16% in premarket trading after Anthropic agreed to a 20-year lease for the company's Kentucky data center.
The Hawesville site, about an hour southwest of Louisville, is planned for roughly 400 megawatts of capacity, with first power delivery expected in the second half of 2027.
TeraWulf said the lease should generate about $19 billion in revenue over the initial term, giving the former crypto miner a long-duration income stream tied to AI infrastructure demand.
The company also sold its 50% stake in a 168-megawatt data center in Abernathy, Texas, to an investor group led by Fluidstack.
The deal underscores TeraWulf's pivot from crypto mining to AI data centers; its stock was already up more than 80% this year.