A planned large financing event tied to a major customer lease can improve the visibility of long-term contracted revenue, but the item is based on reporting and is not yet a finalized transaction.
TeraWulf Eyes $3. 5B Debt Raise for Anthropic AI Data Center Buildout CryptoProwl Fri, July 10, 2026 at 4:52 PM GMT+2 2 min read WULF MS MS-PQ TeraWulf Inc. (NASDAQ: $WULF) is reportedly preparing a $3.
5 billion debt raise to fund construction at its Justified Data campus in Kentucky, where Anthropic has signed a long-term lease for large-scale AI infrastructure capacity. Morgan Stanley (NYSE: $MS) is expected to lead the financing, which could include leveraged loans and high-yield bonds. Chief Financial Officer Patrick Fleury said the transaction is expected to launch this year and would mark TeraWulf's first entry into the leveraged loan market.
The planned raise comes as TeraWulf pushes ahead with a 20-year Anthropic lease covering roughly 401 megawatts of critical IT capacity at the Hawesville campus. The initial term is expected to generate about $19 billion in contracted lease revenue. More From Cryptoprowl: Eightco Secures $125 Million Investment From Bitmine And ARK Invest, Shares Surge Blockchain Projects Decline 75% As Developers Shift To A.
I. Stanley Druckenmiller Says Stablecoins Could Reshape Global Finance New York Stock Exchange Invests $600 Million In Polymarket MEXC Launches VVIP Futures Loss Coverage Program 2. 0 with 1,000,000 USDT Prize Pool Capacity is scheduled to begin coming online in the second half of 2027, with the site expected to reach its full 401 MW deployment by early 2028.
The Kentucky project has quickly become central to TeraWulf's shift beyond bitcoin (CRYPTO: $BTC) mining. The company is using the same power access and large-scale site development capabilities built around mining to secure long-duration AI infrastructure customers. CEO Paul Prager said the Anthropic agreement "validates our strategy," adding that the lease provides a long-term revenue base while creating room for further expansion at the campus.
TeraWulf has already leaned heavily on debt markets to finance that transition. The company raised $3. 2 billion in October 2025 and another $1.
3 billion in December as its data center strategy expanded. The latest financing plan puts another large capital commitment behind that shift. Bitcoin mining remains part of TeraWulf's business, but the Anthropic campus is increasingly shaping how investors value the company's power portfolio and development pipeline.
For TeraWulf, the next phase of growth is starting to look less like a mining expansion and more like a long-term AI infrastructure buildout. TeraWulf Inc. (NASDAQ: WULF) is currently trading at $22.
66 U. S. per share.
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