TeraWulf’s 20-year lease agreement with Anthropic expected to generate $19B in revenue

TeraWulf (WULF) expanded its revolving credit line by 60% to $400M, with an option to increase it to $550M. The move supports utility commitments for its data center expansion, following a $360.7M letters of credit issuance for power obligations at its Muskie Data Campus.

TeraWulf increased its senior secured revolving credit facility from $250 million to $400 million, effective October 23, 2026. The amendment, with Morgan Stanley and lenders, also includes a $150 million uncommitted option and removes a $150 million letter-of-credit sublimit, enhancing financing capacity.

TeraWulf Inc. amended its credit agreement to increase its revolving credit facility from $250 million to $400 million. The deal, effective October 23, 2026, also adds a $150 million accordion feature and removes a $150 million letter of credit sublimit. Morgan Stanley Senior Funding Inc. acted as agent.

TeraWulf (WULF) shares rose 8% to $12.95 after CEO Paul Prager stated strong power demand and on-track data center delivery. Applied Digital (APLD) and IREN (IREN) also gained 9% and 6% respectively, reflecting sector-wide power scarcity themes. The CoinShares Bitcoin Mining ETF (WGMI) rose 3%, outperforming the S&P 500 ETF (SPY).

Terawulf (WULF) stock rose 4.6% to $12.57 after CEO Prager stated strong demand for power capacity through 2028 and 2029. Elon Musk's comments on power constraints for AI also boosted sentiment. Analysts maintain bullish ratings with targets ranging from $21 to $65. The NASDAQ gained 0.6%, while the S&P 500 and Dow Jones were flat or lower.

TeraWulf reached 102 MW of revenue-generating capacity at its Lake Mariner campus, activating $600 million in Google credit support. Google's total credit backstop rose to $3.2 billion. HPC leases contributed $31.9 million to TeraWulf's $44.8 million Q2 2026 revenue.