TeraWulf has announced a strategic partnership with Anthropic to develop an artificial intelligence infrastructure campus in Kentucky, a project poised to generate an impressive $19 billion in revenue and deliver 400 megawatts of computing capacity by 2028.
The digital infrastructure firm revealed on Monday that this ambitious initiative is underpinned by a 20-year lease and reinforced by a robust investment-grade credit rating, highlighting its financial stability.
Following the news, TeraWulf's shares surged by 17%, reaching $24.87 in premarket trading.
The proposed campus will be situated at the Justified Data facility in Hawesville, Kentucky, where it will support approximately 401 megawatts of critical IT requirements. The development will occur in multiple phases, with the first segment expected to come online in the latter half of next year. Full operational capacity is anticipated by early 2028.
CEO Paul Prager expressed that the lease reinforces TeraWulf’s business strategy and establishes a long-term revenue pipeline with a leading player in AI technology. He stated, "The lease secures roughly $19 billion in contracted revenue over its initial duration, lays the groundwork for future growth, and showcases our capability to source energy, construct infrastructure, and secure commitments from long-term customers."

