TeraWulf shares (ticker WULF) showed strong growth following the signing of a massive data center lease contract for artificial intelligence with Anthropic. The deal's value is impressive — $19 billion. During the main trading session, shares rose 4.86%, reaching $22.21. This event is a vivid illustration of how Bitcoin miners are reshaping their businesses to meet the rapidly growing demands of the AI sector.
From Bitcoin Mining to Cloud Computing for AI
TeraWulf started its journey as a classic Bitcoin miner, servicing fleets of ASIC devices. However, the profitability of this business significantly declined after last year's halving, which cut the block reward in half. In response, the company, like several competitors, began actively redirecting its energy capacities and facilities toward hosting AI computations.
My analysis shows that a long-term lease contract with a giant like Anthropic provides a much more stable and predictable cash flow than the volatile economics of mining. This is a strategically sound move that allows TeraWulf to diversify risks.
Monetizing Infrastructure and Selling a Stake in the Project
The company is not completely abandoning mining, but now the deal with Anthropic and the expanding portfolio of AI contracts will determine its value for investors. At the same time, TeraWulf announced the sale of its 50.1% stake in the Texas-based Abernathy data center joint venture. The buyer was a group led by Fluidstack partner, with the deal valued at approximately $530 million.
Thus, TeraWulf is monetizing approximately $450 million of invested capital at a premium. These funds will be directed toward expanding its own directly owned data centers. This is a smart step in capital restructuring.
Global Trend: Capital Exodus from Crypto to AI
The TeraWulf deal is just part of a global trend I have been tracking over the past few months. As of March 2026, Bitcoin miners have sold over 15,000 BTC from their peak holdings and signed AI computing contracts worth over $70 billion. Miners are chasing more stable and higher margins in the AI segment. This is the very capital flow from cryptocurrencies to artificial intelligence that has been "draining" money from the sector during the unprofitable first half of the year.
Notably, the rise in TeraWulf shares occurred against a weak day for Bitcoin itself. The asset dropped in price to $61,900, although it recovered to $63,300 today. Additional pressure on BTC came from selling by 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.
Analyst Comment: From a fundamental analysis perspective, TeraWulf demonstrates an exemplary case of adaptation. The shift from Bitcoin mining to providing infrastructure for AI is not just hype but an economically justified strategy. Investors should closely watch companies that successfully monetize their energy assets in the new technological cycle. This could become a key growth driver in the medium term.