Will TeraWulf (WULF) Stock Break Above $25 After Anthropic’s $19 Billion AI Data Center Deal?

Quick overview

TeraWulf shares jumped after the company signed a 20-year AI infrastructure lease with Anthropic, but the 4-hour chart still shows sellers defending key resistance near $23-$25.

TeraWulf Rallies as Anthropic Deal Reshapes the Story

TeraWulf stock rebounded sharply after announcing one of the largest AI infrastructure lease agreements in the market, confirming its transition from bitcoin mining toward long-duration data center revenue.

Anthropic Lease Gives WULF a Major AI Catalyst

The biggest driver behind the rally was TeraWulf’s new lease with Anthropic, the AI company behind Claude.

The 20-year agreement covers a purpose-built AI infrastructure campus at TeraWulf’s Justified Data site in Hawesville, Kentucky. The facility is expected to support about 401 megawatts of critical IT load, with initial capacity coming online in the second half of 2027 and full ramp expected by early 2028.

The lease is expected to generate roughly $19 billion in contracted revenue over the initial term, giving TeraWulf a major recurring revenue stream tied to AI compute demand rather than Bitcoin prices.

That shift is important. WULF is no longer being valued only as a crypto miner. It is increasingly being treated as an AI infrastructure developer with access to power, land, and long-term hyperscale demand.

Abernathy Sale Frees Capital for Wholly Owned AI Projects

TeraWulf also announced plans to sell its 50.1% ownership interest in the Abernathy joint venture to an investor group led by Fluidstack.

The sale monetizes TeraWulf’s roughly $450 million investment and allows the company to redeploy capital toward projects it owns and operates directly. That matters because the AI infrastructure buildout is highly capital intensive, and investors will be watching whether WULF can fund growth without excessive dilution.

The company’s strategy is becoming clearer: sell non-core or lower-control assets, then focus capital on sites where it can capture more long-term economics.

Analysts Turn More Bullish After the Terawulf-Anthropic Deal

Wall Street reacted positively to the Anthropic announcement.

Compass Point reportedly raised its price target on WULF to $40 from $28, maintaining a Buy rating. Clear Street also reiterated a bullish view, arguing that the deal supports the idea that TeraWulf’s power and data center pipeline may be worth more than the market currently reflects.

The bullish math is simple: the Anthropic lease implies about $950 million in average annual contracted revenue across 401 MW, while management guidance points to high NOI margins once the site is operational.

However, execution risk remains large. TeraWulf must deliver a major AI campus on time, manage construction costs, secure equipment, and finance a multi-billion-dollar project before meaningful revenue begins.

WULF Technical Analysis: Sellers Still Control the Short-Term Trend

Despite the strong news, TeraWulf’s 4-hour chart remains technically fragile.

WULF is trading below the 10 EMA at $23.34, the 20 EMA at $24.52, and the 50 EMA at $25.07. The 100 EMA at $23.85 also sits above the current price, showing that the stock still needs to clear several resistance levels before momentum fully improves.

The first major resistance zone is $23.30-$24.50. Above that, the next key level is $25.00-$25.40, where the 20 SMA and Ichimoku base line are clustered.

Momentum is mixed. RSI sits at 35.40, still neutral but close to oversold territory. MACD remains bearish at -1.22, while Stochastic %K and Momentum both flash buy signals, suggesting early signs of a rebound but not yet a confirmed trend reversal.

Key Levels: $22, $23.50 and $25

The immediate support level is $22, followed by the 4-hour 200 EMA near $21.16. As long as WULF holds above that area, buyers can argue that the recent pullback is stabilizing.

A break below $21 would weaken the setup and expose the stock to a deeper move toward $20.35, where the 200 SMA sits.

On the upside, reclaiming $23.50 would be the first positive signal. A stronger breakout above $25 would suggest the Anthropic deal is being repriced into the stock more aggressively.

Terawulf’s AI Pivot Looks Real, but Execution Is the Test

TeraWulf’s Anthropic lease validates the company’s pivot from bitcoin mining to AI infrastructure. The deal gives WULF a long-duration revenue story, a blue-chip AI customer, and a clearer route into the booming data center market.

However, the stock still faces execution, funding, and dilution risks. The project will not fully ramp until 2028, meaning investors must bridge a long construction period before the full revenue benefit appears.

For now, WULF remains constructive above $21-$22, but bulls need a breakout above $25 to prove the Anthropic deal can turn the rebound into a sustained rally.

ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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