Bitcoin mining company TeraWulf signed a 20-year long-term lease with Anthropic, lifting mining stocks broadly.

On July 6 (local time), blockchain outlet Decrypt reported that TeraWulf agreed to lease an artificial intelligence (AI) data centre campus in Hodgenville, Kentucky, to Anthropic. The company expects about $19 billion in revenue from the contract.

The deal is a major transaction that shows TeraWulf’s shift to AI infrastructure. Anthropic will use a dedicated campus at TeraWulf’s Justified Data site. Over the long term, the facility is expected to support about 401 megawatts (MW) of computing capacity. Phase one is set for the second half of 2027, and full capacity is planned by early 2028.

The market reaction was immediate. TeraWulf shares rose as much as about 14 percent on the day to $24.05 after the announcement. Another miner, IREN, rose more than 13 percent, while Hut 8 gained 12 percent and Cipher Digital rose 11 percent. Kill Infa, which changed its name and fully exited bitcoin mining, also rose 10 percent on the day.

TeraWulf also moved to sell its stake in a separate Texas data centre business. The company agreed to sell its 50.1 percent stake in the Abernathy joint venture, pursued with Fluidstack, to an investor group led by Fluidstack. Through the deal, TeraWulf will cash out its investment of about $450 million at a premium. Fluidstack will lead the project going forward.

The restructuring shows mining companies’ business focus shifting from bitcoin mining to AI computing infrastructure. Maryland-based TeraWulf has been known as a bitcoin miner, but as computing demand for large language model (LLM) training surges, it is pivoting toward data centres and power-based infrastructure. Anthropic, which runs the Claude chatbot, is also among key companies moving quickly to secure long-term power and data centre capacity in line with model expansion.

Paul Prager (폴 프래거), chairman and chief executive of TeraWulf, said, "When we announced the acquisition of the Justified Data campus in February, we told investors we would secure a major customer contract around the end of the second quarter of 2026." He added, "The timing of this announcement is the result of the completion of final documentation work and customary transaction processes," and said, "We are proud to announce this milestone partnership with Anthropic."

Another feature of the deal is its credit-backed lease structure. TeraWulf said it expects the long-term contract to be supported by investment-grade credit. The market is focusing on improved visibility into long-term cash flows beyond a simple site lease.

In this environment, share-price reactions in the mining industry are moving more sensitively to AI infrastructure demand than to bitcoin prices. The TeraWulf case is expected to serve as an example for judging whether miners with power and data centre assets can secure new revenue sources in the AI computing market.

Today, TeraWulf announced two strategic transactions that significantly advance our AI infrastructure strategy: A 20-year lease with @AnthropicAI at our Justified Data Campus The sale of our 50.1% ownership interest in the Abernathy Joint Venture to an investor group led…