TeraWulf mined crypto until that stopped working. Then somebody in the building remembered data centers use the same equipment. Problem solved.
Anthropic leased a facility in Kentucky. The stock jumped because investors treat "AI" like a f*cking bat signal. You could announce you're teaching ChatGPT to make coleslaw and shares would double before lunch.
The pivot makes sense if you squint. Mining rigs burn electricity to solve math problems nobody needs solved. AI data centers burn electricity to solve math problems that also might not need solving but at least someone's willing to pay for it. TeraWulf swapped one power-hungry waste of resources for another and Wall Street called it innovation.
Up 80% this year. Shareholders who bought TeraWulf as a crypto play now own an AI infrastructure company by accident. They're being rewarded for stepping in dogshit and finding a diamond. This is what passes for due diligence in 2026.
Kentucky gets the data center. Anthropic gets the servers. TeraWulf gets to pretend it planned this all along. Every earnings call will include the phrase "strategic transformation" until the words lose all meaning.
The chart looks parabolic. Retail traders are piling in because the stock went up yesterday and might go up tomorrow. That's the entire thesis. No one's reading the 10-K. No one's calculating power costs per rack. They're just watching a line go up and clicking buy like Pavlov's dumbest dogs.
Anthropic needed space. TeraWulf had space. This isn't genius. This is someone answering the phone when it rang and not f*cking it up for once.
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