Anthropic Signs $19B 20-Year Data Center Lease with TeraWulf in Kentucky

Anthropic on Monday signed a 20-year lease to use a TeraWulf data center in Kentucky. The lease covers a purpose-built AI infrastructure campus at TeraWulf's Justified Data site in Hawesville, Kentucky. The agreement is expected to generate approximately $19 billion of contracted revenue over the initial term. The campus is designed to support around 401 megawatts of critical IT load and will be developed in phases, with initial capacity expected to come online in the second half of 2027 and full buildout targeted for early 2028. TeraWulf shares surged more than 10 percent in early trading after the announcement. The lease is supported by an investment-grade credit, according to TeraWulf. CNBC reported that the data center, located about an hour southwest of Louisville, will have capacity of around 400 megawatts with first power delivery expected in the second half of 2027. The lease is initially expected to generate around $19 billion in revenue over the initial term.