en.Wedoany.com Reported - TeraWulf is planning to raise approximately $3.5 billion to build the Justified Data campus in Hawesville, Kentucky, which will be leased to artificial intelligence company Anthropic. Morgan Stanley is expected to lead the financing, which may include high-yield bonds. The funding comes after TeraWulf signed a 20-year lease agreement with Anthropic valued at approximately $19 billion.

Anthropic is also a customer at TeraWulf's New York campus near Buffalo, leasing capacity through Fluidstack, a deal backed by Google. Earlier this week, TeraWulf sold its 50.1% stake in Abernathy Enterprises, a joint venture with Fluidstack, to an investor group led by Fluidstack. The joint venture was established in 2025 to develop a 168MW data center campus in Abernathy, Texas.

TeraWulf stated that the equity sale realized a $450 million investment value, with proceeds to be redeployed into other projects. Earlier this year, the company secured a $250 million revolving credit facility, with some lenders expected to participate in the planned financing. At the end of 2025, TeraWulf also expanded its convertible note issuance to $900 million, maturing in 2032.