The 20-year agreement boosts TeraWulf’s contracted revenue and marks its largest AI infrastructure partnership to date.
TeraWulf shares climbed 13% after announcing a 20-year lease with Anthropic for AI infrastructure at its Kentucky campus, expected to generate $19 billion in revenue. The deal includes phased development, with initial capacity set for late 2027 and full buildout by early 2028.
The agreement follows TeraWulf’s strategy of securing long-term customer commitments for large-scale AI infrastructure. The company also sold a majority stake in a joint venture to recycle capital into new projects, reinforcing its expansion plans.
TeraWulf stated the lease is backed by investment-grade credit, validating its approach to power-secured AI infrastructure development.