TeraWulf Announces 20-Year Lease With Anthropic At Justified Data Campus

TeraWulf Inc. has signed a 20-year lease with Anthropic at its Justified Data campus in Kentucky, expected to generate $19 billion in revenue. The company also sold its majority stake in the Abernathy Joint Venture to Fluidstack to focus on wholly owned AI infrastructure.

TeraWulf Announces 20-Year Lease With Anthropic At Justified Data Campus TeraWulf Inc. NASDAQ: WULF has executed a 20-year lease agreement with Anthropic at its Justified Data campus in Hawesville, Kentucky. The lease is expected to generate approximately $19 billion of contracted revenue over the initial term and is supported by an investment-grade credit. The Justified Data campus accommodates approximately 401 MW of critical IT load and is being developed in phases, with initial capacity expected online in the second half of 2027 and full ramp to 401 MW by early 2028. In a separate transaction, TeraWulf has entered into a definitive agreement to sell its 50.1% ownership interest in the Abernathy Joint Venture to an investor group led by Fluidstack. The Abernathy JV was established in 2025 to develop a 168 MW critical IT load AI data center campus in Abernathy, Texas. TeraWulf is monetizing its approximately $450 million investment at a premium to invested capital and will redeploy proceeds into wholly owned AI infrastructure assets where it maintains direct ownership, customer relationships, and operational control. Chairman and CEO Paul Prager stated https://investors.terawulf.com/news-events/press-releases/detail/142/terawulf-announces-anthropic-lease-at-justified-data-campus-and-sale-of-majority-interest-in-abernathy-joint-venture-to-fluidstack that the Anthropic lease validates the company’s strategy of sourcing power, developing infrastructure, and securing long-term commitments with leading AI companies, while the JV sale crystallizes value created and positions TeraWulf for its next phase of growth focused on owned and operated critical infrastructure.