Terawulf

Riot Platforms shares jumped more than 20% in pre-market trading after the bitcoin miner secured a 20-year artificial intelligence infrastructure agreement tied to Anthropic. The deal underscores how power-rich mining firms are repositioning data center assets toward AI workloads and longer-term contracted revenue.

Hut 8 and IREN led a sharp Monday rebound in bitcoin mining stocks after announcing major AI infrastructure contracts. The deals helped ease investor concerns that demand for new data center capacity could be cooling.

TeraWulf is leaning into AI hosting after securing a 20-year agreement with Anthropic that the company values at roughly $19 billion over its life. The company says power access, site control and long-term infrastructure ownership are becoming the decisive factors in the AI data center race.

Compass Point analysts argue that investors are giving limited credit to signed AI data center leases at several companies that once traded primarily as bitcoin miners. The firm says Applied Digital, TeraWulf and Cipher Mining show the biggest valuation gaps as the sector shifts toward recurring infrastructure income.