Anthropic has signed a 20-year lease agreement with TeraWulf, an American digital infrastructure company, for a purpose-built AI infrastructure campus at the Justified Data site in Hawesville, Kentucky, as the AI company expands its computing capacity.
The lease covers approximately 401 MW of critical IT load and is expected to generate US $19 billion in contracted revenue over the initial term. The campus will be developed in phases, with initial capacity expected to come online in the second half of 2027 and reach full capacity by early 2028 according to a press release.
Paul Prager, Chairman and CEO, TeraWulf commented on the Anthropic partnership by saying, “The Anthropic lease validates our strategy and establishes a long-duration revenue stream with one of the world’s leading AI companies. The initial term, creates a framework for future expansion, and demonstrates the value of our ability to source power, develop infrastructure, and secure long-term customer commitments.”
In related news, TeraWulf agreed to sell its 50.1 percent ownership stake in the Abernathy Joint Venture to an investor group led by Fluidstack, its joint venture partner. The deal will allow TeraWulf to monetize its approximately US$ 450 million investment in the Texas AI data center project and redirect capital toward wholly owned infrastructure projects.
Paul Prager, commented on the ownership take sale by saying, “The sale of our ownership interest in Abernathy to a group led by Fluidstack crystallizes the value created through that investment and generates significant capital for redeployment into infrastructure platforms where we maintain direct ownership, customer relationships, and operational control.”
The Abernathy Joint Venture was formed in 2025 to develop a 168 MW AI data center campus in Abernathy, Texas. After the transaction, Fluidstack will continue to lead development of the project.