TeraWulf hires Fluor to build three Kentucky data-centre buildings leased to Anthropic

TeraWulf said on 4 November 2026 that it has signed an EPC (engineering, procurement and construction) contract with Fluor Enterprises for three data-centre buildings at its Justified Data Campus in Hawesville, Kentucky, where Anthropic leases about 401 MW of critical IT load.

TeraWulf's quarterly report dates the contract to October. The press release says it widens Fluor's role beyond the early engineering and pre-construction work it began under a limited notice to proceed in March 2026, to design, buying, building, testing and commissioning. TeraWulf says the contract sets delivery milestones, gives it open-book reporting of Fluor's costs, and includes oversight of procurement and performance protections, and that a guaranteed maximum price is still being set as engineering and procurement advance. TeraWulf expects the buildings to enter service in phases, starting in late 2027 and finishing in the second quarter of 2028.

TeraWulf announced Anthropic's 20-year lease at the campus on 6 July 2026 and says it should bring in about $19 billion over its initial term. The lease is held by TeraWulf's subsidiary Raylan Data, and rent starts as each data hall is delivered, according to the 8-K filed on 4 November.

On 4 November, TeraWulf, two of its subsidiaries, Anthropic and Google signed three credit support agreements, one for each leased building, under which Google backstops certain Anthropic obligations under the leases. The backstop takes effect when the final data hall of each lease starts, and it ends on conditions that include Anthropic, or an affiliate guaranteeing its lease, holding certain investment-grade ratings for three months or more. If Anthropic defaults on rent or becomes insolvent, Google may either pay the rent due and take over as tenant, or in some circumstances pay a termination fee, in which case it would be entitled to a stake in Raylan. Anthropic and Raylan also amended the leases on 4 November.

TeraWulf says Google's support is for the debt financing it expects to raise for the campus and will help it borrow on competitive terms. Its chairman and chief executive, Paul Prager, said the Anthropic leases were set up from the start to deal with tenant credit risk, financing costs and capital needs, and that Fluor adds engineering and construction capacity. TeraWulf cited labour availability as a growing constraint on large data-centre projects.