TeraWulf Stock Pops on $19B Anthropic AI Deal and JV Exit
Bitcoin miner TeraWulf locked in a 20-year AI lease with Anthropic and unloaded its majority JV stake, sending shares higher.
TeraWulf just made two big moves in one shot — and the market noticed. The Bitcoin miner signed a 20-year AI infrastructure lease worth $19 billion with Anthropic, one of the hottest names in the AI race right now. That's not a short-term bet. That's a generational commitment to the AI power build-out.
On top of that, TeraWulf sold its majority stake in a separate AI data center joint venture. Trimming the JV while locking in a two-decade Anthropic contract signals a deliberate pivot: concentrate the business, maximize the anchor tenant, stop diluting the upside. Clean strategy.
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For traders watching the Bitcoin miner space, this is a textbook infrastructure pivot play. TeraWulf was already sitting on power assets built for crypto mining — and now it's redeploying that same high-density power capacity toward AI compute demand, which is orders of magnitude more profitable per megawatt right now than hashing Bitcoin.
The Anthropic lease is the real headline here. With AI firms scrambling for dedicated, long-term data center capacity, a 20-year deal is the kind of contract that rerates a balance sheet. Expect analysts to revisit their price targets. If you're in the miner-to-AI-infrastructure trade thesis, TeraWulf just handed you a live case study.
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