Terawulf and Anthropic Sign 20-Year AI Data Center Lease Worth $19 Billion

Terawulf Advances AI Strategy With Anthropic Lease and Texas Asset Sale

Terawulf is reshaping its information halfway strategy astir large-scale artificial quality (AI) infrastructure, securing a semipermanent lease with Anthropic portion moving to exit a Texas associated venture.

The institution said it has signed a 20-year lease with Anthropic astatine its Justified Data field successful Hawesville, Kentucky. The agreement is expected to make astir $19 cardinal successful contracted gross implicit the archetypal lease term.

The field volition enactment astir 401 megawatts of captious IT load and volition beryllium developed successful phases. Initial capableness is expected to travel online successful the 2nd fractional of 2027, with the tract reaching afloat capableness by aboriginal 2028. Terawulf said the lease is expected to beryllium supported by an investment-grade credit.

Anthropic Deal Anchors Kentucky Campus

The Anthropic lease gives Terawulf 1 of the clearest semipermanent gross streams successful the rapidly expanding AI infrastructure market.

Terawulf acquired the Justified Data field earlier this twelvemonth and had told investors it expected to unafraid a large lawsuit committedness astir the extremity of the 2nd 4th of 2026.

Chairman and CEO Paul Prager said the timing of the announcement reflected the completion of last documentation and customary transaction processes. The lease validates Terawulf’s strategy of sourcing power, processing infrastructure and securing long-duration lawsuit commitments from large AI companies. Prager commented:

Our strategy is centered connected owning and operating captious infrastructure assets, maintaining nonstop relationships with our customers, and controlling the semipermanent improvement of our campuses. We judge this exemplary provides the top accidental to make durable currency flows and charismatic semipermanent returns for shareholders.

Abernathy Sale Frees Capital for Wholly Owned Projects

Separately, Terawulf agreed to merchantability its afloat 50.1% stake successful the Abernathy Joint Venture to an capitalist radical led by Fluidstack, its associated task spouse and an AI unreality infrastructure provider.

The Abernathy Joint Venture was formed successful 2025 to make a 168-megawatt captious IT load AI information halfway field successful Abernathy, Texas. After the woody closes, Fluidstack volition proceed starring the project.

Terawulf said the merchantability monetizes its astir $450 cardinal concern astatine a premium to invested capital. The transaction is expected to springiness the institution much superior to redeploy into projects wherever it has nonstop ownership, lawsuit relationships, and operational control.

The 2 transactions amusement however Terawulf wants to physique worth crossed the AI infrastructure cycle: make campuses, unafraid semipermanent customers, monetize mature investments and recycle superior into aboriginal growth.