Shares of Bitcoin miner TeraWulf (ticker WULF) showed steady growth during the main Nasdaq session, gaining 4.86% to reach $22.21. The key catalyst was the signing of a long-term agreement with Anthropic to lease data centers for artificial intelligence needs, totaling $19 billion.
TeraWulf, initially positioned as a classic Bitcoin miner, is increasingly shifting its focus toward the high-margin AI computing segment. Following last year's halving, which halved the block reward and squeezed mining margins, the company began actively repurposing its energy capacity and facilities. One major tenant on a long-term contract provides much more stable and predictable revenue than the volatile economics of Bitcoin mining.
From Mining to AI: A Strategic Pivot
The deal with Anthropic is not TeraWulf's only move in this direction. Simultaneously, the company announced the sale of its 50.1% stake in the Abernathy data center joint venture in Texas. The buyer was a group led by partner Fluidstack. The transaction amount was approximately $530 million, allowing TeraWulf to monetize about $450 million of invested capital at a premium. These funds will be reinvested into expanding its own data centers, which the company owns directly.
This step is part of a global trend I have been tracking throughout the year. As of March 2026, Bitcoin miners have already sold over 15,000 BTC from peak holdings and signed AI computing contracts worth over $70 billion. Capital is flowing into artificial intelligence, which has been "sucking" money out of the cryptocurrency sector throughout the unprofitable first half of the year. TeraWulf here is a prime example of how infrastructure players are adapting to the new reality.
The rise in WULF shares stands out against the weak performance of Bitcoin itself. Yesterday, BTC fell to $61,900, although it partially recovered to $63,300 today. Additional pressure on the price of the first cryptocurrency came from sales by Strategy: the company 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 view: TeraWulf's diversification into AI is not just a tactical move but a strategic necessity for survival in the post-halving era. The company is not just diversifying its revenue; it is creating a more sustainable business model tied to long-term contracts. For investors, this is a signal: the future of mining companies lies not in coin extraction, but in providing computing power. Those who fail to adapt risk being left behind.