Stock Market Today July 6: TeraWulf Stock Jumps on Anthropic AI Deal

The stock market today, July 4, reflected a broad risk on tone across equities and crypto adjacent names, with Bitcoin (CRYPTO:BTCUSD) trading at 63,990.0, up 0.64% on the day, as investors rotated into AI infrastructure plays tied to digital asset miners.

Indexes Post Solid Gains

The S&P 500 (SNPINDEX:^GSPC) climbed 0.74% to close at 7,538, while the Nasdaq Composite (NASDAQINDEX:^IXIC) outpaced it with a 1.12% advance to 26,121. That relative outperformance in tech heavy names lined up with a rally in Bitcoin mining and high performance computing infrastructure stocks, a group increasingly valued on AI data center monetization rather than hash rate economics alone.

TeraWulf's Pivot From Mining to Contracted AI Revenue

TeraWulf (NASDAQ:WULF) closed at 22.21 dollars, up 4.86%, on volume of 73.3 million shares, roughly 135% above its three month average of 31.2 million shares. The move followed two disclosures: a 20 year lease agreement with Anthropic for a site in Hawesville, Kentucky, expected to generate about 19 billion dollars in contracted revenue, and the sale of TeraWulf's 50.1% stake in a Texas data center joint venture for approximately 530 million dollars against an original 450 million dollar investment.

Those two transactions mark a further step in TeraWulf's shift from proof of work mining economics, which are exposed to network difficulty and Bitcoin price swings, toward long duration, contracted HPC leasing income. The company added the Eastern Kentucky development site in late May, and the Hawesville lease extends that footprint with a counterparty, Anthropic, that carries meaningful AI compute demand visibility.

Peer Comparison Across Mining and HPC Names

Both Cipher Digital and IREN outpaced TeraWulf's percentage gain, suggesting the sector wide bid extends beyond company specific catalysts and reflects investor appetite for any miner credibly repositioning as AI infrastructure. IREN's 13.11% jump is the largest single day move among the three, underscoring how sensitive these equities remain to incremental HPC monetization headlines.

Bitcoin's Role and the Volatility Backdrop

Bitcoin's own 0.64% daily gain to 63,990.0 is comparatively modest against the double digit swings in mining equities, a divergence that reinforces how these stocks now trade less as direct Bitcoin proxies and more on AI leasing fundamentals.

Miners still carry balance sheet exposure to Bitcoin's price and to network difficulty adjustments, and the sector's history of sharp drawdowns means the AI pivot narrative, however contracted and long dated, does not eliminate crypto market volatility risk. Revenue diversification lowers correlation to spot Bitcoin over time but doesn't remove it entirely.

What Determines Whether the AI Infrastructure Bet Pays Off

The durability of TeraWulf's re rating depends on execution: converting the Hawesville lease and the Texas JV sale proceeds into deployed, cash generating capacity without cost overruns or delays. Investors are pricing in continued deal flow, and any slowdown in AI compute demand or leasing terms could compress the multiple that mining stocks have recently commanded.