Key points include a total facility capacity of approximately 400 megawatts, with the first power delivery anticipated in the second half of 2027. This long-term lease is projected to generate around $19 billion in revenue for the company over its initial term.
Artificial intelligence firm Anthropic signed a 20-year lease agreement on Monday to utilize a data center in Kentucky owned by TeraWulf. The facility is located in Horse Cave, roughly an hour's drive southwest of Louisville, and offers a total power capacity of about 400 megawatts. The initial power supply is scheduled to become operational in the latter half of 2027.
Driven by this positive development, TeraWulf shares opened nearly 15% higher on Monday. The lease is expected to yield approximately $19 billion in revenue for the company during its first contract period.
TeraWulf CEO Paul Prager stated, "This lease with Anthropic validates our strategic direction and establishes a long-term, stable revenue stream with a leading global AI company."
In a separate transaction, TeraWulf completed the sale of its 50% stake in a 168-megawatt data center in Abilene, Texas, to an investor consortium led by Fluidstack.
Originally a cryptocurrency mining enterprise, TeraWulf has transitioned its primary focus to AI data center infrastructure. The company's stock has surged more than 80% year-to-date.
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