TeraWulf Secures $19B, 20-Year Anthropic Lease for 400MW AI Campus
WULF•TeraWulf signed a 20-year, $19 billion lease with Anthropic to build a 400 MW AI compute campus in Kentucky, with first power deliveries slated for the second half of 2027. The agreement locks in roughly $950 million in annual revenue and propelled TeraWulf shares up by about 20% on the news.
1. Lease Agreement Details
TeraWulf signed a binding 20-year lease with AI developer Anthropic for a 400 MW data center campus in Hardin County, Kentucky. The contract, valued at $19 billion, schedules initial power delivery in the second half of 2027 and secures long-term capacity for Anthropic’s AI operations.
2. Financial Outlook
The lease guarantees approximately $950 million in annual revenue over two decades, bolstering TeraWulf’s projected cash flow and providing collateral for project financing. This commitment enhances the company’s visibility into future income streams and supports its expansion plans in the AI infrastructure market.
3. Market Reaction
TeraWulf shares surged up to 20% following the announcement as investors reacted to the substantial revenue backlog and strategic shift toward AI-focused data centers. Trading volume spiked, reflecting heightened market confidence in TeraWulf’s long-term growth trajectory.
