Bitcoin Miner TeraWulf Just Signed a $19B Deal With Anthropic

TeraWulf, a company best known as a bitcoin miner, has signed a 20-year data-center lease with Anthropic, the developer of the Claude AI model. The company's shares jumped more than 10% on the first trading day after the news, CNBC reports.

Facility details: the site is located in Hawesville, Kentucky, with roughly 400 megawatts of capacity, first power expected in the second half of 2027, and full capacity reached in early 2028, Gizmodo notes.

What the $19 billion figure actually means: it isn't money TeraWulf receives upfront — it's projected contracted revenue over the entire 20-year lease term, meaning the company gets paid gradually as the service is delivered, not as a single lump sum today, CoinDesk explains.

Why this is happening specifically with bitcoin miners: these companies already hold cheap, long-term power contracts and existing grid connections — the most expensive part of building an AI data center from scratch. Leasing part of that capacity to AI companies gives miners stable revenue for decades, instead of the volatile economics of bitcoin mining, which depend entirely on the coin's price.

This article is for informational purposes only and does not constitute investment advice.