Google could take stake in bitcoin miner TeraWulf’s $19 billion AI project if Anthropic defaults
Source: CoinDesk ·
From the source
A $19 billion data-center agreement includes an unusual provision allowing Google to acquire part of the project if Anthropic fails to pay its rent. Google could become a part owner of a data center project developed by bitcoin miner TeraWulf if artificial intelligence company Anthropic fails to meet its rental obligations, according to a newly disclosed agreement. The Silicon Valley giants agreed to backstop Anthropic’s obligations under a 20-year, $19 billion lease covering 401 megawatts of computing capacity at its Kentucky campus , TeraWulf said in a Wednesday filing . The arrangement is meant to help TeraWulf secure financing for the project, which is expected to begin delivering capacity in late 2027. If Anthropic defaults on its rent or becomes insolvent, Google can step in as the tenant and take over the lease . Furthermore, under certain conditions, it can pay a termination fee and take an ownership stake in Raylan Data, the TeraWulf subsidiary operating the project. The…