TeraWulf Signs $19 Billion AI Infrastructure Lease With Anthropic

Infrastructure provider TeraWulf Inc. signed a 20-year lease agreement with AI developer Anthropic to establish a purpose-built computing campus at the Justified Data site in Hawesville, Kentucky. The project will convert a 750-acre former Century Aluminum smelter into a facility supporting 401 megawatts of critical IT load to power Anthropic's Claude AI models. TeraWulf expects the deal to generate approximately $19 billion in contracted revenue over the initial term, a figure exceeding the company's market value of $12 billion. Construction will be led by Fluor Corporation, with initial capacity slated for the second half of 2027 and full operation by early 2028.

Concurrent with the lease, TeraWulf sold its 50.1% majority stake in the Abernathy Joint Venture, a 168 MW AI data center project in Texas, to an investor group led by Fluidstack. The sale is reported at approximately $450 million to $530 million, allowing TeraWulf to pivot from bitcoin mining toward wholly owned AI infrastructure. Following these announcements, TeraWulf shares rose between 7.5% and 20%.

The Kentucky project is expected to create 100 to 120 jobs and generate $14.5 million in annual state sales tax and $7 million for local schools. However, local residents have raised concerns regarding noise pollution, water resources, and electricity consumption, with a petition to pause the project gathering over 1,200 signatures.