TeraWulf Announces $19B AI Lease with Anthropic, Sells JV Interest for $530M

TeraWulf announced two significant strategic transactions, entering into a 20-year, multi-billion dollar data center lease with AI company Anthropic PBC, and selling its equity interest in the Abernathy Joint Venture for approximately $530 million. These moves are intended to secure long-term revenue and provide capital for wholly-owned AI infrastructure projects.

Key Details

• Anthropic Lease Agreement: A 20-year lease for approximately 401 MW of critical IT load for high-performance computing (HPC) at its Justified Data Campus in Kentucky. The lease is expected to generate ~$19 billion in contracted revenue over the initial term.
• Lease Timeline: Delivery of the leased capacity is scheduled to occur in phases, beginning in late 2027 and concluding in early 2028.
• Abernathy Joint Venture Sale: The company will sell its entire equity interest in FS CS I LLC to Fluidstack CS I Inc. and other purchasers for total consideration of approximately $530 million.
• Payment Schedule: The $530 million consideration will be paid in three installments: $250M within 14 days, $150M by December 31, 2026, and ~$130M by April 30, 2027.