Bitcoin Mining Stocks Jump After TeraWulf Signs $19 Billion Lease With Anthropic
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- TeraWulf signed a 20-year lease with Anthropic for a ~401 MW purpose-built AI data center campus at its Justified Data site in Hawesville, Kentucky, expected to generate ~$19 billion in revenue.
- Bitcoin mining stocks broadly rallied on the news: TeraWulf jumped nearly 14% to $24.05, while IREN rose 13%, Hut 8 gained 12%, Cipher Digital climbed 11%, and Keel Infrastructure (formerly Bitfarms) added 10%.
- TeraWulf is separately selling its 50.1% stake in the Abernathy Joint Venture — a Texas data center project developed with Fluidstack — monetizing its roughly $450 million investment at a premium, with Fluidstack taking over leadership of the project.
- Anthropic secured capacity with the first phase slated to come online in the second half of 2027 and full capacity reached by early 2028; TeraWulf said the lease is expected to be supported by an investment-grade credit rating.
- TeraWulf Chairman and CEO Paul Prager framed the deal as fulfilling a commitment to investors to secure a major customer by around the end of Q2 2026, calling the partnership "landmark" in a statement.
Why it matters: TeraWulf now has a named anchor tenant for its 401 MW Kentucky campus, but the broader signal is the 10-13% lift across IREN, Hut 8, Cipher, and Keel — the market is treating Anthropic's commitment as validation of the Bitcoin-miner-pivots-to-AI thesis. TeraWulf's simultaneous Abernathy exit shows it's concentrating capital on the Hawesville flagship rather than scattering across multiple sites.
