TeraWulf’s stock surges after a $19 billion deal with Anthropic
The deal “validates” the crypto-mining company’s pivot to supporting the AI buildout, its CEO said.
Last updated: 2026-07-06 16:16:23 ET
Pulse AI Brief
Updated Jul 6, 2026 3:00 PM ET
Bitcoin miner TeraWulf signed a 20-year AI infrastructure lease with Anthropic valued at $19 billion and sold a majority stake in a related AI joint venture. The deal validates TeraWulf's pivot from cryptocurrency mining to supporting large-scale AI compute operations.
TeraWulf shares surged on the announcement, reflecting investor appetite for companies positioned at the intersection of energy infrastructure and AI buildout. The deal demonstrates that crypto-mining infrastructure can be repurposed for AI workloads at massive scale.
This signals accelerating capital deployment by AI labs into physical infrastructure partnerships, a trend that could reshape energy and data-center markets. It also highlights the strategic value of existing mining operations as AI compute demand explodes.
The deal “validates” the crypto-mining company’s pivot to supporting the AI buildout, its CEO said.
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