TeraWulf CEO: 'Not All Megawatts Are Created Equally' in AI Race

CoinDesk NewsTeraWulf CEO: 'Not All Megawatts Are Created Equally' in AI RaceTeraWulf says its $19 billion AI hosting agreement with Anthropic underscores its transformation from a Bitcoin miner into an AI infrastructure company.By AI Boost|Edited by Jennifer Sanasie Jul 13, 2026, 7:43 p.m. 2 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on Latest developments: CEO Paul Prager said the 20-year lease reflects surging demand for AI computing and validates TeraWulf's strategy of owning power, land and operations.Prager said the Kentucky project won Anthropic through a competitive bidding process centered on access to grid power and long-term infrastructure.The contract is valued at roughly $19 billion over its life, exceeding TeraWulf's current market capitalization, according to the interview.Prager said TeraWulf already works with Anthropic and Google at its Lake Mariner campus in New York, giving the companies an established relationship.Prager was interviewed by Jennifer Sanasie on CoinDesk's Public Keys at the New York Stock Exchange.What this means: TeraWulf is shedding non-core assets to focus capital on AI data centers it fully controls.Prager said the company's sale of its interest in the Abernathy project reflects a disciplined capital allocation strategy rather than a change in AI ambitions.He said TeraWulf earned a strong return on the sale and plans to reinvest the proceeds into wholly owned AI infrastructure projects, including additional sites in eastern Kentucky.Prager said owning the site, power supply and operations gives TeraWulf greater control over customer relationships and long-term returns.The context: Building AI data centers remains a multi-year effort with labor emerging as a key execution challenge.Prager said the Kentucky facility is expected to come online beginning in 2028 and that TeraWulf has hired Fluor to help construct the project.He said securing skilled labor and c…

TeraWulf CEO: 'Not All Megawatts Are Created Equally' in AI Race

Coins in this story

Related stories

Binance.US CEO says exchange is rebuilding, eyes return to 20% U.S. market share

Franklin Crypto CIO says crypto prices are disconnected from fundamentals

Mizuho says Circle bank approval doesn't solve USDC growth, stablecoin competition risks