Bernstein reiterates $36 target on TeraWulf after $19 billion Anthropic lease, highlighting miners' AI pivot

AI Market Summary

Bernstein reaffirmed its $36 target on TeraWulf after the miner secured a $19B, 20-year lease with Anthropic, described as the longest AI contract among miners diversifying beyond bitcoin. The deal reinforces the market's view that miners can monetize power and data-center infrastructure for AI workloads, potentially improving revenue visibility and reducing sensitivity to crypto mining economics in the near term.

Impact level

● Medium

Affected assets

NCSKWULF2USD/USDT-9.60%

AI Insight · NCSKWULF2USD/USDTAI Insight

▲ Bullish

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Bernstein kept its $36 price target on TeraWulf after the company secured a $19 billion lease agreement with Anthropic. The 20-year contract is the longest AI-related deal to date among bitcoin miners expanding beyond mining into AI-focused infrastructure.

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