TeraWulf (Provider) · Anthropic (Buyer)
- Value
- approximately $19B
- Capacity / term
- 401 MW · 20y
- $2.37M per MW-year
- First revenue
- 2027-07
- Sources
- [1] primary[2] tier-1
20-year lease at the Justified Data Campus, a former Century Aluminum smelter site in Hawesville, Kentucky (Hancock County), 401 MW critical IT load. Initial capacity online H2 2027, full 401 MW by early 2028. Same week TeraWulf sold its 50.1% stake in the separate Abernathy Joint Venture (168 MW, Texas) to an investor group led by Fluidstack for approximately $530M; that sale is a real-estate/JV divestiture, not a compute deal, and is not itself a ledger row. Surfaced this run via the EDGAR watchlist hit on TeraWulf's Q2 2026 8-K (filed 2026-08-05), which restated the lease; the deal itself predates this run by a month and was missing from the ledger.
Conditions: Anthropic holds two successive five-year renewal options (up to 10 additional years beyond the 20-year initial term); lease is expected to be supported by investment-grade credit.