TeraWulf Inc. (NASDAQ: WULF), the Easton, Maryland-based developer and owner/operator of vertically integrated digital infrastructure, has announced the artificial intelligence (AI) giant Anthropic has signed a 20-year lease agreement at its Justified Data campus in Hawesville, Kentucky.
According to the company, the campus will accommodate approximately 401 megawatts (MW) of IT load and will be developed in multiple phases. Initial capacity is expected to be placed into service during the second half of 2027, with the campus ramping to full capacity by early 2028.
TeraWulf added the lease is expected to generate approximately $19 billion of contracted lease revenue over the initial term and is expected to be supported by an investment-grade credit.
Paul Prager, chairman and CEO of TeraWulf, stated, “When we announced the Justified Data campus acquisition in February, we told investors that we expected to secure a major customer commitment by around the end of the second quarter of 2026. The timing of today’s announcement reflects the completion of final documentation and customary transaction processes, and we are proud to announce this landmark partnership with Anthropic. The Anthropic lease validates our strategy and establishes a long-duration revenue stream with one of the world’s leading AI companies. The lease provides approximately $19 billion of contracted lease revenue over its initial term, creates a framework for future expansion, and demonstrates the value of our ability to source power, develop infrastructure, and secure long-term customer commitments.”
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