TeraWulf Inc. signed a $19 billion lease with Anthropic for 401 megawatts of compute capacity at its Kentucky data campus over a 20-year term, the company announced in a press release Tuesday.
The deal marks TeraWulf's entry into high-performance computing infrastructure for large language models, a market that has drawn competition from traditional data center operators and cryptocurrency miners seeking new revenue streams as hardware economics shift. The lease revenue will begin in late 2027, according to the announcement.
TeraWulf operates Bitcoin mining operations and has built data center capacity in Kentucky and Pennsylvania. The Anthropic lease represents the company's largest committed customer contract to date. CEO Paul Prager said in a statement that "not all megawatts are created equally in the AI race," noting the company's focus on delivering specialized infrastructure for model training and inference.
The announcement included details on TeraWulf's sale of a majority stake in its Abernathy joint venture to FluidStack, a separate transaction that reduces the company's exposure to Bitcoin mining partnerships.
The 401-megawatt commitment to Anthropic spans the company's Justified data campus in Kentucky, a facility designed to support large-scale AI workloads. Anthropic, which develops Claude and other large language models, has pursued long-term power agreements to secure stable, reliable electricity for training and serving its models. The deal follows similar infrastructure plays by other AI companies seeking dedicated compute capacity outside public cloud providers.
TeraWulf's Bitcoin mining operations remain operational as of mid-2026, with the company continuing to generate revenue from block rewards and transaction fees alongside its growing HPC business.
