Nazar Khan's TeraWulf Jumps on $19 Billion Data Center Lease Deal with Anthropic
By Reuters | 06 Jul, 2026

A 20-year lease with Anthropic for data center infrastructure gave a 10% boost to TeraWulf as it pursues a long-term shift away from relying on bitcoin mining.

TeraWulf said on Monday it signed a 20-year lease with Anthropic for data center infrastructure, a deal expected to generate about $19 billion in contracted revenue, sending the bitcoin miner's shares up more than 10% in early trading.

TeraWulf was co-founded by COO/CTO Nazar Kahn whose parents immigranted from India to the Midwest.

The deal secures long-term, recurring revenue for TeraWulf from an AI customer as it shifts away from relying on bitcoin mining, a transition the company said in May would increasingly drive its business.

Here are some details:

• The Anthropic lease covers a purpose-built AI infrastructure campus at TeraWulf's Justified Data site in Hawesville, Kentucky.

• The campus will support about 401 megawatts of critical IT load, with initial capacity expected online in the second half of 2027 and full capacity by early 2028.

• Separately, TeraWulf agreed to sell its 50.1% stake in the Abernathy joint venture to an investor group led by partner Fluidstack.

• The sale monetizes TeraWulf's roughly $450 million investment at a premium to invested capital and frees up capital for wholly owned AI infrastructure projects.

• As of previous close, TeraWulf shares had gained about 85% year to date.

(Reporting by Anhata Rooprai and Anzar Mehraj in Bengaluru; Editing by Vijay Kishore and Joyjeet Das)