Shares of Bitcoin miner TeraWulf (ticker WULF) showed strong growth, gaining 4.86% in the main session and reaching $22.21. The reason for this surge was a major deal with Anthropic to lease data centers for artificial intelligence (AI) worth $19 billion. This event is not just corporate news, but a clear signal of a fundamental restructuring of the business model of an entire industry.
Initially, TeraWulf, like many other mining companies, focused on Bitcoin mining, servicing specialized ASIC farms. However, the profitability of this business significantly decreased after the last halving, which halved the block reward. Under these conditions, the company began actively diversifying its energy capacity and infrastructure sites towards hosting AI computations.
The deal with Anthropic is a key element of this strategy. The long-term data center lease contract provides a much more stable and predictable cash flow than the volatile economics of mining. TeraWulf, while maintaining Bitcoin mining operations, is now increasingly dependent on AI contracts, which essentially begin to determine its market value. Simultaneously, the company announced the sale of its 50.1% stake in the joint Texas venture Abernathy. The buyer was a group led by partner Fluidstack, with the transaction amount totaling approximately $530 million. This allowed TeraWulf to monetize about $450 million of invested capital at a premium, freeing up funds to expand its own data centers.
This move is part of a global trend. As of March 2026, Bitcoin miners have sold over 15,000 BTC from peak holdings and signed AI computing contracts worth over $70 billion. Miners are chasing more stable margins in the AI segment, and this capital flow from the cryptocurrency sector, which has been observed throughout the unprofitable first half of the year, continues to gain momentum.
The rise in TeraWulf shares looks particularly impressive against the backdrop of Bitcoin's weak performance, which fell to $61,900 the day before, although it recovered to $63,300 today. Pressure on BTC's price was also exerted by selling from Strategy, which disclosed the sale of 3,588 Bitcoins for $216 million—a sharp increase in volume compared to the 32 coins sold several weeks earlier.
My comment: The market is clearly signaling: the future belongs to those miners who can effectively repurpose their assets for AI needs. TeraWulf demonstrates an example of successful transformation, and we will likely see further growth in interest in such companies, especially amid uncertainty in the Bitcoin sector itself.