TeraWulf Signs 20-Year Anthropic Data Campus Lease: ~$19B Revenue Reshapes WULF From Miner to AI Infrastructure Play

Event Summary

TeraWulf (WULF) has reportedly signed a 20-year lease agreement with Anthropic for its data campus, with the deal expected to generate approximately $19 billion in contracted revenue over the term. According to research compiled from sector sources, the agreement centers on TeraWulf's 183-acre, 400 MW campus at the former Milliken Station site, where 138 MW is expected online in H2 2026. WULF shares are up +16.11% on the day, trading at $24.65 with an intraday high of $27.61.

The deal mirrors a broader wave of mega-infrastructure commitments — Anthropic has separately committed $50 billion to U.S. data centers via FluidStack, while CoreWeave holds $56 billion in contracted revenue — placing the reported TeraWulf agreement squarely within the enterprise contract surge repricing trend reshaping AI infrastructure valuations. Note: The precise $19B / 20-year figures have not yet been independently corroborated by a primary SEC filing or press release at time of publication; treat as partially verified.

Leverage Impact Analysis

At $24.65, WULF has already surged +16.11% intraday. Leveraged traders face asymmetric risk profiles depending on entry timing.

Long scenario: A trader opening a 50x long WULF CFD at the session open near $21.60 (day low) would now be sitting on a ~+14% move in the underlying — translating to approximately +700% return on margin before fees. However, at current prices near $24.65, the risk/reward compresses: a retracement to $22.00 represents a -10.7% drawdown, which would liquidate a 50x long opened at $24.65 with standard margin buffers.

Short squeeze risk: With the stock up 16% on a single session, short interest built against WULF's legacy crypto-miner profile faces forced covering. Traders holding >20x short positions opened below $22.00 are already under severe pressure — continuation to the $27.61 intraday high would push them toward liquidation.

Given the bitcoin miner AI GPU pivot repricing dynamic, volatility is likely to remain elevated around any SEC filing confirmation or analyst note. Position sizing should reflect the possibility of ±15% daily moves until the deal is formally filed. Monitor open interest on CoinUnited.io for confirmation signals.

Cross-Market Impact

This is a cross-sector partnership catalyst with clear ripple effects across the AI infrastructure capital reallocation wave:

• -Mining peers — IREN Limited, Riot Platforms, MARA, CORZ, and CIFR will see sympathy bids as investors price in the possibility that other miners monetize idle power via AI leases. Peers with large power footprints but no AI contracts may see valuation re-ratings.
• -Data center REITs — Equinix (EQIX) and Digital Realty (DLR) benefit from accelerating AI co-location demand validation.
• -Hyperscalers — Microsoft, Amazon, and Google face competitive pressure as Anthropic locks in dedicated capacity outside hyperscaler clouds, signaling the AI lab's push for compute independence.
• -Natural Gas (NGAS) — A 400 MW campus represents a sustained baseload draw. If regional grid mix is gas-heavy, this incrementally supports power demand and natural gas pricing.
• -NASDAQ-100 (US100) — Broadly bullish for AI infrastructure sentiment; deal confirms sustained capex cycle supporting NVDA, AMD, and SMCI order books.

For Anthropic exposure directly, CoinUnited traders can access Anthropic Pre-IPO Synthetic CFDs — which trade 24/7, unlike traditional pre-IPO platforms that only transact on tender events.

Trading Considerations

Key levels to watch: WULF's intraday high of $27.61 represents immediate resistance; a confirmed close above this level would signal continuation toward the next psychological level. Support sits at the pre-announcement zone near $21.60 (day low). The +16% move on elevated volume is consistent with AI datacenter energy capital raise catalysts seen in peers.

The critical near-term catalyst is an official SEC filing or press release confirming the Anthropic counterparty and exact contract terms. Without formal documentation, the stock remains susceptible to a partial reversal if details disappoint. Watch for sell-side coverage initiations and any capex funding plan for completing the remaining 262 MW of the 400 MW campus.

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