Anthropic secures $19 B AI data‑center lease with TeraWulf

Data‑center developer TeraWulf signed a 20‑year lease with AI company Anthropic for approximately 401 MW of compute power at its Justified Data site in Hawesville, Kentucky. The agreement is expected to generate about $19 billion in contracted revenue, with the first capacity slated to come online in the second half of 2027 and full capability by early 2028. TeraWulf chairman Paul Prager said the lease “validates the company’s strategy and establishes a long‑term revenue stream with one of the world’s leading AI companies.”

The deal coincides with TeraWulf’s sale of its 50.1 % stake in a joint venture with AI cloud platform Fluidstack, which is building a 168‑MW AI data‑center campus in Abernathy, Texas. An investor group led by Fluidstack will acquire the stake for roughly $450 million. The broader trend includes major Bitcoin holders such as MicroStrategy selling large BTC positions and redirecting funds—about $65 million—to AI data‑center projects, signalling a shift in investment focus from cryptocurrency mining to AI infrastructure.