It will probably end up in the kitchen. I don't have much usage for a cleaver of that weight but think the blade shape (and super hard edge) would keep it from being useful in the shop.
On a related note, this is my recently refurbished shop knife/chicken chopper/barn stove kindlin' splitter/hillbilly japanese hatchet.
It lives outside most of the year.
Blade is whatever carbon steel the cheapest possible bush-hog blades are made from.
Scales are made from leftover flooring, a slathered with pine tar. Pins made from some bolts.
Heat treat via cutting torch and canola oil.
It gets all the scut work. I once lost it under the decking of my '76 mercruiser for about 6 months.