TeraWulf Secures $19 Billion Contract, Shifts Focus from Bitcoin to AI Services

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TeraWulf Secures $19 Billion Contract with Anthropic

TeraWulf, an American Bitcoin miner, has secured a long-term leasing contract worth $19 billion with Anthropic for computing capacity. This significant deal marks a strategic shift for TeraWulf, moving from the volatile revenues of Bitcoin mining to more predictable data center revenues. The contract involves leasing approximately 401 megawatts of computing capacity at the Justified-Data-Campus in Hawesville, Kentucky, over a period of twenty years.

The announcement on July 6 led to a temporary surge in TeraWulf's stock price, which increased by up to 19%. This transition from Bitcoin mining to leasing computing power for high-performance computing and AI applications positions TeraWulf as a competitor in the AI sector, significantly altering its business model.

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"The shift from Bitcoin mining to renting computing power could fundamentally change the company's strategy."

In the first quarter of 2026, TeraWulf reported revenues of $34 million, with $21 million coming from high-performance computing rentals, surpassing the $13 million from mining. However, the company remains deeply in the red, with a net loss of $427.6 million and a negative equity of $77.6 million.

Overall, the Anthropic deal provides TeraWulf with a more stable revenue stream, which is crucial for its future growth and financial health.

IREN Transitions from Bitcoin Mining to AI Cloud Platform

IREN is undergoing a strategic transformation, shifting its mining infrastructure to support artificial intelligence applications. This move reflects a broader trend in the industry, where companies are diversifying their operations to include high-performance computing services alongside traditional Bitcoin mining.

The company aims to leverage its existing infrastructure to cater to the growing demand for AI and data processing services, which could enhance its revenue stability and reduce reliance on the volatile cryptocurrency market.

Investors are closely monitoring IREN's ability to scale its operations efficiently while managing costs, as these factors will significantly impact its profitability in the evolving digital landscape.

New Hampshire Halts Bitcoin-Backed Municipal Bond Initiative

The state of New Hampshire has recently halted a groundbreaking initiative to issue Bitcoin-backed municipal bonds, which aimed to integrate digital assets into traditional capital markets. The proposed $100 million financing model for the Bitcoin mining company CleanSpark was narrowly rejected by the Executive Council, despite receiving a preliminary rating of "Ba2" from Moody's.

This initiative was intended to establish Bitcoin as institutional collateral, with CleanSpark required to back the loan with at least 160% of its value in Bitcoin. The rejection highlights ongoing concerns regarding the volatility of Bitcoin and its suitability as a financial instrument within public finance.

"The decision of the Executive Council undermines potential revenue opportunities for the state."

Despite the setback, the proposal reflects New Hampshire's position as a leader in Bitcoin-friendly legislation and its efforts to explore innovative financial solutions involving digital assets.

Cango to Execute 10-for-1 Stock Split

Cango, a Bitcoin mining company listed on the NYSE, is set to conduct a 10-for-1 stock split on July 20. This means that every ten shares will be consolidated into one share, which is expected to enhance the liquidity of the stock and make it more accessible to a broader range of investors.

The stock split is part of Cango's strategy to improve its market presence and attract more investment in the competitive landscape of Bitcoin mining. Following the split, the company's A shares will continue to trade under the ticker "CANG" with a new CUSIP number.

Malaysia Seizes Over 75,000 Crypto Mining Devices

Malaysian authorities have confiscated more than 75,000 crypto mining devices as part of a crackdown on illegal mining operations between 2022 and May 2026. This extensive operation included over 3,000 raids and resulted in the arrest of 629 suspects, highlighting the government's commitment to combating energy theft and illegal mining activities.

The Deputy Minister of Home Affairs emphasized that illegal mining poses significant financial risks to energy providers and disrupts the power supply. The government plans to enhance enforcement measures and collaborate more closely with energy companies to identify illegal mining sites effectively.

"Identifying potential hotspots early is crucial for targeted interventions."

As the demand for digital assets continues to rise, the Malaysian government remains focused on regulating the mining sector while ensuring compliance with legal standards.

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Anonymous am 11.07.2026

Wow this is wild! So, TeraWulf is ditching Bitcoin(Bitcoin?) for AI stuff? I mean, that’s like going from riding bikes to driving a ferrari right? And 19 billion is a HUGE number, like, I can’t even count that high! People were surprised to see the stock go up – 19% wow! But I guess if they’re makin more money from leasing instead of mining cryptos, it’s smater. I mean, what happens when Bitcoin values go down? Gets risky ya know.

Also, I noticed IREN is doing the same thing, like shifting gears, what if this becomes a new thing and all mining companies start doing like AI stuff? That could change the whole crypto game. Plus, what's up with New Hampshire not wanting those Bitcoin-backed bonds? They sound pretty innovative to me, like, maybe they’re just scared of the crazy prices Bitcoin has sometimes, I get that. But hey, if they just tried it, they might see what happens!

And don’t even get me started on Malaysia confiscating those mining devices – that’s some serious business there. Like, over 75,000? That's like, a whole factory of rigs! It's crazy how much they’re cracking down. I guess illegal stuff isn’t okay, but also makes you think there were lots of people just trying to get in on the crypto wave. Anyway, interesting times we livin in!

Anonymous am 11.07.2026

I find it interesting that TeraWulf is making this shift while IREN is also pivoting towards AI. Seems like a lot of companies are trying to make a safer bet with revenue streams that won't fluctuate as much as Bitcoin values. But hey, with all these changes, it's gonna be wild to see how the crypto landscape evolves in the next few years!

Article Summary

TeraWulf has secured a $19 billion contract with Anthropic for computing capacity, marking its shift from Bitcoin mining to stable data center revenues. Meanwhile, Malaysia seized over 75,000 crypto mining devices in a crackdown on illegal operations.