Shares of the Bitcoin miner-turned-data-center operator TeraWulf climbed sharply Monday following news of a two-decade infrastructure agreement with artificial intelligence developer Anthropic, marking a sharp reversal after a steep decline last week.
The stock advanced 16% to $24.60 in Monday trading, clawing back losses after closing down 10% the prior Thursday. Should the gains hold through the close, TeraWulf would snap a seven-session losing streak that had weighed on the shares in recent weeks.
The company disclosed Monday that it has signed a 20-year lease with Anthropic covering a purpose-built AI infrastructure campus at its Kentucky site. TeraWulf projects the arrangement will deliver approximately $19 billion in contracted revenue across the initial term of the lease.
Initial capacity under the agreement is expected to come online in the second half of 2027, with the full campus reaching operational status in 2028.
Alongside the Anthropic announcement, TeraWulf revealed it has agreed to divest its 50.1% stake in a joint venture formed in 2025 to build a 168-megawatt AI data center campus in Abernathy, Texas — a project into which the company had committed $450 million.
Company leadership framed the Anthropic agreement as confirmation of TeraWulf’s broader strategic pivot toward long-term, high-value infrastructure contracts with major AI developers, describing it as the foundation for potential further expansion of the partnership.
