Shares of TeraWulf experienced a significant 17% surge during Monday’s premarket session, climbing to approximately $24.81, following the company’s revelation of a two-decade lease contract with Anthropic for a custom-designed AI infrastructure facility in Kentucky.
The rally provided relief after WULF stock declined 10% on Thursday and endured a seven-session losing streak heading into Monday’s trading.
The facility will be developed at TeraWulf’s Justified Data property in Hawesville, Kentucky, providing approximately 401 megawatts of critical IT capacity through a phased construction approach.
The agreement is projected to deliver roughly $19 billion in guaranteed lease revenue throughout its initial duration. This represents a substantial milestone for an organization that originally operated as a Bitcoin mining company.
First-stage capacity is slated to become available during the second half of 2027. Complete operational capacity across the entire campus is anticipated by early 2028.
Chief Executive Paul Prager stated the agreement confirms the company’s strategic shift toward AI infrastructure. “The lease provides approximately $19 billion of contracted lease revenue over its initial term,” he noted.
Prager emphasized the agreement establishes a blueprint for additional expansion and showcases TeraWulf’s capacity to secure power resources, build infrastructure, and establish long-duration customer agreements.
In a concurrent announcement, TeraWulf revealed it will offload its 50.1% controlling interest in the Abernathy Joint Venture, a 168-megawatt AI data center complex situated in Texas.
The acquiring party is an investment consortium headed by Fluidstack, TeraWulf’s current joint venture collaborator and AI-cloud infrastructure solutions provider.
TeraWulf had committed $450 million to the Texas project. Company leadership indicated the divestiture will enable capital reallocation toward ventures where it maintains enhanced long-term value potential through full ownership.
The Texas initiative was launched in 2025 as a component of TeraWulf’s comprehensive expansion into AI infrastructure services.
The Kentucky facility benefits from what TeraWulf characterized as an investment-grade credit backing, strengthening the long-term lease’s financial foundation.
Prager positioned both transactions as a coordinated strategic realignment. “Together, these transactions position TeraWulf for its next phase of growth,” he stated.
The Anthropic partnership represents the most definitive indication to date of TeraWulf’s transformation from its cryptocurrency mining origins toward establishing itself as a specialized AI data center provider.
TeraWulf’s premarket performance on Monday positioned the stock to reclaim a substantial portion of losses accumulated throughout the previous week’s downturn.
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