
Bitcoin miner TeraWulf has finalized a 20-year lease deal with AI startup Anthropic. This deal is for approximately 401 MW of data center capacity. It is estimated that the contract will yield around $19 billion in revenue for the duration.
This step indicates a major change in TeraWulf’s business strategy from simply Bitcoin mining to setting up infrastructure for high-performance computing. This change is in line with the increasing use of energy assets of the crypto industry by the AI demand.
What The Deal Entails
Per the contract, TeraWulf will make some changes to its U.S. facilities to provide power for hosting Anthropic’s AI tasks. The 401 MW is a large share of TeraWulf’s total power supply. It is structured as steady, long-term revenue rather than being subject to the ups and downs of the price of BTC.

Source: TeraWulf
Anthropic, which has the backing of Amazon and Google, will get dedicated capacity for training and inference of large language models. On WULF’s side, this deal helps the company to have various revenue sources other than block subsidies and transaction fees.
Also Read: TeraWulf Reports $427M Q1 Loss as Bitcoin Mining Revenue Falls
Why it is Important for Crypto and Infrastructure Markets
This partnership is a good example of how mining companies are making money from stranded or under-utilized energy assets in the AI boom.
Mining companies with HPC and AI hosting contracts that lead to more predictable cash flows have been the target of institutional investors lately. Mining revenue cycles would be traditional-of that most $19B figure, if realized, would TeraWulf’s correlation to Bitcoin halving events.
Also Read: Nvidia $20 Billion Debt Boom Backs Bitcoin Miners AI Pivot
Industry Background and What Next
Need for data center power supply has been less than demand and AI companies are in a competition for access to new and clean energy sources.
Crypto and AI in turn use-up a lot of energy, regulators are giving a hard look to these energy usage. Besides constructing, TeraWulf is now faced with the need to meet schedule to maintain uptime service level agreements and at the same time, the challenge is to keep a balance between mining operations and AI hosting.

Source: Reuters
Investors will be looking at quarterly reports to check the recognition of contracted backlog while developers are interested to see if mining sites become the key infrastructure for the new wave of AI computing.
Also Read: Anthropic Accused of Hiding Spyware-Like Code in Claude Code 2026