Bitcoin miner TeraWulf (NASDAQ: WULF) has signed a 20-year agreement to provide AI customer Anthropic with approximately 401 megawatts of AI computing capacity, expected to generate about $19 billion in contracted revenue. The first facilities are scheduled to begin operating in late 2027.

In the first quarter, TeraWulf's 60 megawatts of operating AI and high-performance computing (HPC) capacity generated $21 million in lease revenue, surpassing the $13 million from Bitcoin mining. HPC leasing accounted for approximately 62% of total revenue. The company's stock has risen nearly 242% in the past year as of July 31.