TeraWulf announced a 20-year, 401 MW lease with Anthropic and a sale of its Abernathy JV interest that yields roughly $530 million in proceeds.
Key Highlights:
- Entered 20-year Justified Data Campus lease with Anthropic for ~401 MW of critical IT load, phased delivery late 2027–early 2028.
- Lease expected to generate approximately $19 billion of contracted revenue over the initial 20-year term and is expected to be supported by an investment-grade credit.
- Sold all equity interests in FS CS I LLC (Abernathy JV) to purchaser group led by Fluidstack for aggregate consideration of ~$530 million payable in three installments.
- Transaction monetizes TeraWulf’s ~ $450 million investment in Abernathy at a premium, frees capital to redeploy into wholly owned AI infrastructure opportunities.
- Anthropic rent obligations begin upon delivery of leased premises; lease includes up to two five-year renewal options (total potential +10 years).
Original SEC Filing:
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