TeraWulf shares soar after Anthropic leases data center in Kentucky
CNBC • • business
Key Points:
- Anthropic signed a 20-year lease with TeraWulf to use a new 400-megawatt data center in Hawesville, Kentucky, with power expected to be delivered in the second half of 2027.
- The lease is projected to generate approximately $19 billion in revenue for TeraWulf over the term, validating the company's strategic shift toward AI data center infrastructure.
- TeraWulf's shares surged over 16% in premarket trading following the announcement, contributing to an 80% increase in the stock price so far this year.
- The company also sold its 50% stake in a 168-megawatt data center in Abernathy, Texas, to an investor group led by Fluidstack as part of its business pivot.
- CEO Paul Prager highlighted the lease as a significant long-term revenue stream with one of the leading AI companies globally.
