TeraWulf (WULF) shares jumped about 15% on Monday after the company secured a long-term agreement tied to its AI infrastructure business and outlined plans to redeploy capital into future projects.
TeraWulf said it signed a 20-year lease agreement with Anthropic for its Justified Data campus in Kentucky. The company expects the arrangement to contribute roughly $19 billion in contracted revenue over the life of the agreement.
TeraWulf said the campus is designed as a 401-megawatt AI-focused data center facility. Initial operations are expected to begin in the second half of 2027, while full operating capacity is projected by early 2028.
Separately, TeraWulf reported an agreement to sell its 50.1% ownership interest in the Abernathy Joint Venture to an investor group led by Fluidstack. TeraWulf said the transaction monetizes an investment valued at about $450 million.
TeraWulf said the proceeds may provide additional financial flexibility as the company shifts resources toward AI infrastructure projects that it owns directly.