TeraWulf stock jumps 26% in pre-market hours on Nasdaq after firm signs $19 billion deal with Anthropic

After the opening bell, TeraWulf's stock was up 13% to $24.05 during the early trading session on Monday, according to the exchange data.

MarketWatch data showed that the TeraWulf share price jumped 26.6% to $26.83 during the pre-market hours on Monday, compared to $21.18 at the previous US stock market close. The data also showed that the trading volumes surged past 4 million ahead of the opening bell.

Details of the deal

As per the official announcement, TeraWulf and Anthropic have agreed to a 20-year lease agreement for a purpose-built AI infrastructure campus at the Justified Data site in Kentucky, United States.

“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,” said Paul Prager, Chairman and CEO of TeraWulf.

The Kentucky campus will accommodate nearly 401 megawatts (MW) of critical IT load, and the facility will be developed in multiple phases.

The initial capacity of the data centre in Kentucky is expected to be in service during the second half of 2027, with the campus ramping up to the full 401 MW by early 2028, as per the official filing.

“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,” the company said in its official statement.

Abernathy stake sale

TeraWulf will sell a 50.1% ownership stake in Abernathy Joint Venture to an investor group led by Fluidstack, its joint venture partner and a leading AI cloud infrastructure provider, as per the official announcement.

The joint venture was set up in 2025 to develop a 168 MW critical IT load AI data centre campus in Abernathy, Texas. After the closing of the stake sale, Fluidstack will continue to leading the project.

“The transactions enhance TeraWulf’s long-term revenue visibility, strengthen its financial position, and further align the Company’s capital with infrastructure platforms where it maintains direct ownership, customer relationships, and operational control,” TeraWulf informed the stock exchanges.

How have TeraWulf shares performed?

TeraWulf shares have lost nearly 3% on the US stock market in the last five years, but the company’s stock has delivered more than 341% returns on its investment in the last five years.

On a year-to-date basis, TeraWulf shares have gained 66% in the calendar year 2026, but the stock has lost 18% in the past one year. The company’s stock has lost around 15% in the last five trading sessions on Nasdaq.

Shares of TeraWulf surged to a 52-week high of $29.84, while the 52-week low was at $4.52, according to MarketWatch data. The company’s market capitalisation (m-cap) was at $10.5 billion as of the trading session on Monday, July 6.