Shares of Bitcoin miner TeraWulf (ticker WULF) showed a confident rise of 4.86%, reaching $22.21 during the main trading session. The catalyst was not another halving or a BTC surge, but a massive $19 billion data center lease contract for artificial intelligence with Anthropic. This event finally solidifies a shift in TeraWulf's business model: from volatile mining to stable income from AI infrastructure.
Like many of its competitors, TeraWulf is beginning to redirect its energy capacity and sites from Bitcoin mining to servicing AI computations. The reason is simple: a long-term contract with a single tenant provides a much more predictable cash flow than dependence on the BTC price and network difficulty. Although the company continues mining, it is now the portfolio of AI capacity hosting contracts that will determine its market value.
Asset Monetization and Exit from Joint Ventures
In parallel, TeraWulf announced the sale of its 50.1% stake in the Texas-based joint venture Abernathy. The buyer was a group of investors led by a partner of Fluidstack, with the deal amounting to approximately $530 million. Thus, TeraWulf is monetizing roughly $450 million of invested capital at a premium, freeing up funds for the direct expansion of its own data centers.
This deal is part of a global trend. As of March 2026, Bitcoin miners have sold over 15,000 BTC from their peak holdings and signed AI computing contracts worth more than $70 billion. The industry is essentially "flowing" into artificial intelligence, which is drawing capital away from the cryptocurrency sector, especially against the backdrop of a loss-making first half for many miners.
Market Reaction is Mixed
The rise in TeraWulf shares is particularly notable against the weak performance of Bitcoin itself. The day before, BTC fell to $61,900, although it recovered to $63,300 today. Pressure on the leading cryptocurrency also came from Strategy, which disclosed the sale of 3,588 BTC for $216 million — a sharp increase in transaction volume compared to the 32 coins sold several weeks earlier.
Expert Opinion: TeraWulf's transition from mining to AI is not just diversification, but a change in business model. The company is essentially transforming into an operator of high-tech real estate with long-term contracts. Given the scale of the deal with Anthropic, I expect WULF shares to continue receiving a premium for cash flow stability, while pure miners will remain hostages to BTC volatility. This is a signal to the market: infrastructure for AI is becoming the new "blue chips" in the crypto industry.