TeraWulf started as a Bitcoin miner, running specialized computer warehouses to earn newly issued coins, a business whose margins tightened after last year’s halving cut the mining reward in half.
Like many of its peers, it has instead shifted its power capacity and sites toward hosting AI computing, where a single tenant with a long lease offers more stable income than the volatile economics of mining. The company still runs a Bitcoin operation, but the Anthropic lease and its broader pipeline may now define its value.
Meanwhile, TeraWulf added that it would sell its entire 50.1% stake in the Abernathy data center joint venture in Texas to a group led by partner Fluidstack for about $530 million, monetizing about $450 million of invested capital at a premium and freeing up cash to expand the data centers it owns.
The deal fits a rotation that CoinDesk has been following all year. In March 2026, Bitcoin miners sold more than 15,000 coins from their highest holdings and signed more than $70 billion in AI computing contracts, continuing AI trading’s steadier margins, the same capital shift toward artificial intelligence that pulled money out of crypto during a losing first half.
The lift stood out on a tough day for Bitcoin itself. The token slipped as high as $61,900 on Monday after Strategy revealed the sale of 3,588 bitcoins for around $216 million, a sharp increase from the 32 coins sold weeks ago.
