Profit-Taking Drags Terawulf (WULF) Shares by 8.87%

Terawulf Inc. (NASDAQ:WULF) is one of the 10 Stocks Investors Are Running Away From.

Terawulf dropped its share prices by 8.87 percent on Tuesday to end at $20.24 apiece as investors resorted to profit-taking to take advantage of as much as 18.7 percent climb the day prior.

This followed news on Monday that it successfully bagged a $19 billion leasing agreement with AI startup, Anthropic, for the delivery of critical IT load for a period of 20 years.

For illustration purposes only. Photo by Brett Sayles on Pexels

Under the agreement, Terawulf Inc. (NASDAQ:WULF) will deliver 401 MW of critical IT load to the AI firm, to be developed in multiple phases. Initial capacity is targeted for delivery in the second half of 2027, to be followed by the balance by early 2028.

“The Anthropic lease validates our strategy and establishes a long-duration revenue stream with one of the world’s leading AI companies. The lease provides approximately $19 billion of contracted lease revenue over its initial term, creates a framework for future expansion, and demonstrates the value of our ability to source power, develop infrastructure, and secure long-term customer commitments,” said Chairman and CEO Paul Prager.

Separately, Terawulf Inc. (NASDAQ:WULF) entered into a definitive agreement with a group of investors led by Fluidstack for the sale of its entire 50.1 percent stake in the Abernathy joint venture project, successfully monetizing its $450 million at a premium.

Established only last year, the Abernathy project aims to develop a 168 MW critical IT load data center in Abernathy, Texas.

Upon closing of the transaction, Fluidstack will continue leading the project.

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