Bitcoin miner TeraWulf, transferring deeper into AI infrastructure, signed a 20-year information heart lease with Anthropic anticipated to generate about $19 billion in contract income.
The corporate additionally introduced Monday that it’s promoting a majority stake in a separate AI information heart three way partnership to reinvest in wholly owned initiatives.
The corporate’s shares rose about 12% in Monday morning buying and selling following the announcement, extending a roughly 107% year-to-date acquire, in response to Yahoo Finance information on the time of writing.
TeraWulf inventory value. Supply: Yahoo Finance
Beneath the settlement, Anthropic will lease a purpose-built AI information heart campus at TeraWulf’s Justified Information web site in Hawesville, Kentucky. Acquired in February, the ability is designed to assist 401 MW of vital IT capability, with preliminary operations anticipated within the second half of 2027 and full buildout focused for early 2028.
Individually, TeraWulf agreed to promote its 50.1% stake within the Abernathy three way partnership, an AI information heart undertaking in Texas, to an investor group led by accomplice Fluidstack. The corporate stated it expects the sale to return its roughly $450 million funding which it plans to reinvest in AI infrastructure initiatives that it owns outright.
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AI demand reshapes Bitcoin mining business
The announcement comes as demand for AI infrastructure outpaces accessible computing capability. Coaching and working massive AI fashions requires information facilities with high-performance chips, superior cooling techniques and entry to massive quantities of dependable electrical energy, making power-rich campuses more and more helpful.
That has created a chance for a number of Bitcoin miners, which already personal websites with grid connections, energy agreements and different infrastructure wanted for energy-intensive computing. Whereas AI information facilities use completely different {hardware} than crypto mining operations, the overlap has prompted a number of miners to diversify into AI and high-performance computing (HPC).
Nevertheless, the pivot comes with vital prices. Blocksbridge Consulting estimated in June that public Bitcoin miners pursuing AI infrastructure might have roughly $50 billion in near-term capital, as AI information facilities require far better funding than conventional Bitcoin mining services.
Final month, HIVE Digital signed a three-year, $220 million settlement to supply GPU cloud infrastructure for AI startup Cohere by means of Bell Canada’s AI Cloth, whereas IREN acquired Spanish information heart developer Nostrum Group, including about 490 MW of secured, grid-connected energy because it entered the European AI market.
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