On July 6, TeraWulf surged 15.23% in regular trading, reaching $24.52 per share with turnover of $250 million. The rally was driven by the announcement that AI research company Anthropic has entered a 20-year lease agreement to use TeraWulf's data center facility in Kentucky.

TeraWulf confirmed it reached a lease agreement with Anthropic for its Justified data campus. Simultaneously, the company announced the sale of its majority stake in the Abernathy joint venture to Fluidstack. The Anthropic deal represents a major validation of TeraWulf's strategic pivot toward high-performance computing infrastructure supporting AI workloads.

The Kentucky data campus was acquired in late May from Industrial Equity Partners and is expected to eventually support more than a gigawatt of data center capacity, with an initial 500 megawatts expected to begin ramping in H2 2028. TeraWulf had previously priced a $900 million equity offering in April specifically to fund construction costs for the Kentucky facility. Multiple Wall Street firms maintain Buy ratings on the stock, with price targets ranging from $28 to $42, reflecting confidence in the company's HPC transformation strategy.

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