The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.

TeraWulf (NASDAQ:WULF) shares rose 13% on Monday after the company announced a long-term artificial intelligence infrastructure lease with Anthropic alongside the sale of a majority stake in a joint venture, moves that significantly expand contracted revenue while recycling capital into new development projects.

The digital infrastructure company said it has signed a 20-year lease agreement with Anthropic for capacity at its Justified Data Campus in Hawesville, Kentucky.

The agreement is expected to generate approximately $19 billion in contracted revenue over the initial term, according to TeraWulf.

The campus is designed to support around 401 megawatts of critical IT load and will be developed in phases, with initial capacity expected to come online in the second half of 2027 and full buildout targeted for early 2028. TeraWulf said the lease is expected to be backed by investment-grade credit.

TeraWulf CEO Paul Prager said the Anthropic lease marks a "landmark partnership" that validates the company's strategy of securing long-duration customer commitments for large-scale AI infrastructure campuses.

He said the agreement "establishes a long-duration revenue stream" and demonstrates the company's ability to secure major AI customers while developing power-secured infrastructure at scale.

TeraWulf also announced it will sell its 50.1% ownership interest in the Abernathy Joint Venture to an investor group led by Fluidstack, its existing partner.

The transaction values TeraWulf's investment at approximately $450 million, representing a premium to invested capital, and will allow the company to redeploy proceeds into wholly owned AI infrastructure projects.

The Abernathy joint venture, established in 2025, was developing a 168 MW AI data center campus in Texas. Following completion of the sale, Fluidstack will continue to lead development of the project.

Prager added that the Abernathy divestment allows TeraWulf to "crystallize value" from its investment while reallocating capital into projects where it retains full ownership and operational control.