Anthropic has signed a 20-year lease for a data center in Hawesville, Kentucky, operated by TeraWulf. The deal, expected to generate approximately $19 billion in revenue, will support AI computing operations with a capacity of 401 megawatts. The campus, called Justified Data, will be developed in phases, with initial power delivery expected in the second half of 2027 and full capacity by early 2028. Anthropic also holds two successive five-year renewal options.
TeraWulf CEO Paul Prager stated the lease validates the company's strategy and establishes a long-duration revenue stream with a leading AI company. The data center will create a framework for future expansion, demonstrating TeraWulf's ability to source power and secure long-term commitments.
Separately, TeraWulf announced the sale of its 50.1% stake in the Abernathy Joint Venture, a 168 MW data center in Texas, for approximately $530 million. The company plans to redeploy the capital into data center opportunities where it maintains direct ownership and operational control. TeraWulf's stock climbed more than 16% in premarket trading following the announcements.
TeraWulf, originally a Bitcoin mining company, has pivoted to AI data center infrastructure. The company's stock has surged over 80% this year.