Bitcoin miner TeraWulf (ticker: WULF) saw its shares rise after signing a $19 billion deal with Anthropic to lease AI data center capacity. The stock gained 4.86% in the main session, reaching $22.21. The company, which began as a Bitcoin miner, is now increasingly shifting its focus toward hosting artificial intelligence computing.
TeraWulf originally operated warehouses of specialized machines used to mine newly minted Bitcoin. However, the profitability of that business has come under pressure since last year’s halving, which cut the block reward in half.
Pivot From Mining to AI
Like several other Bitcoin miners, TeraWulf is now using its energy capacity and data center space to host AI computing infrastructure. Long-term contracts with major tenants can provide more stable revenue than the volatile economics of Bitcoin mining.
The company still maintains Bitcoin mining operations. However, the Anthropic deal and its broader contract portfolio may now play a much larger role in how investors value the business.
TeraWulf Stock Rises on Nasdaq
TeraWulf shares rose 4.86% in the main session, according to TradingView.
The company also announced the sale of its 50.1% stake in Abernathy, a Texas-based data center joint venture. The buyer, a group led by partner Fluidstack, valued the stake at approximately $530 million.
The transaction allows TeraWulf to monetize roughly $450 million of invested capital at a premium, freeing up funds to expand the company’s directly owned data centers.
Part of a Broader Industry Shift
The deal fits into a wider trend that analysts have tracked throughout the year. As of March 2026, Bitcoin miners had sold more than 15,000 BTC from their peak holdings and signed AI computing contracts worth over $70 billion.
Miners are chasing more stable margins in the AI sector. This reflects the same broader capital rotation into artificial intelligence that pulled attention and liquidity away from crypto during the weaker first half of the year.
TeraWulf’s stock rally stood out against a weak day for Bitcoin itself. Yesterday, BTC fell to $61,900, before recovering today to $63,300.
Additional pressure came from a sale by Strategy. The company disclosed the sale of 3,588 bitcoins for $216 million, a sharp increase from the 32 coins it sold a few weeks earlier.
