Bitcoin miner TeraWulf, trading under the ticker WULF, demonstrated a confident rise in stock prices following the signing of a long-term data center lease contract for artificial intelligence with Anthropic. The total value of the deal is estimated at $19 billion. During the main trading session, shares gained 4.86%, reaching $22.21.
We are witnessing a landmark transformation of one of the major players in the mining industry. TeraWulf, initially focused solely on Bitcoin mining, is actively reorienting its business towards providing computing power for the AI sector. This is not just diversification, but a strategic pivot dictated by economic reality.
The profitability of mining the first cryptocurrency continues to shrink after the April 2024 halving, which cut the block reward in half. Under these conditions, a stable cash flow from a long-term contract with a giant like Anthropic looks far more attractive than the volatile and unpredictable economics of mining.
Strategic Pivot: From Hashrate to AI FLOPS
TeraWulf's decision is not an isolated case. It is part of a global trend that I have been tracking over the past few months. Miners worldwide are actively converting their energy capacities and infrastructure into high-yield AI data centers. As of March 2026, the industry has sold over 15,000 BTC from its reserves and signed contracts for AI computing power worth over $70 billion.
Alongside the mega-deal, TeraWulf 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 deal amount totaling approximately $530 million. Thus, the company is successfully monetizing its investments, receiving a premium of $450 million over invested capital and freeing up resources for further expansion of its own data centers.
Against this backdrop, WULF shares are performing confidently, while Bitcoin itself is going through a rough patch. Pressure on the first cryptocurrency, including from sales by Strategy (formerly MicroStrategy), which recently sold 3,588 BTC for $216 million, only underscores the correctness of TeraWulf's chosen course.
My expert opinion: We are witnessing a fundamental shift in the revenue structure of major mining companies. TeraWulf demonstrates that possessing cheap energy and developed infrastructure is an asset that can and should be monetized not only through Bitcoin mining. The deal with Anthropic is not just a one-day stock price increase; it is a signal to the market that the future lies in hybrid models, where mining acts as a stable anchor and AI serves as a driver of super-profits.