Bitcoin
Bitdeer secures $4.7B AI data center capacity in 16-year Norway lease
The Bitcoin miner locked in 121 megawatts of GPU computing infrastructure through a long-term agreement, signalling broader industry shift toward AI revenue streams.
Bitcoin mining company Bitdeer signed a 16-year lease valued at up to $4.7 billion for 121 megawatts of AI and high-performance computing capacity at its facility in Tydal, Norway. The capacity will support Nvidia GPU-based AI workloads for a Volta Infra subsidiary, with Bloomberg reporting that Volta's $10 billion cloud contract is tied to artificial intelligence firm Anthropic.
The lease remains subject to closing conditions and is not yet effective. JP Morgan and another unnamed global financial institution are expected to issue approximately $1.3 billion in letters of credit to secure the tenant's payment obligations. Bitdeer's stock jumped roughly 8% following the announcement.
The agreement reflects a broader strategy by Bitdeer to diversify beyond core Bitcoin mining. In addition to expanding AI infrastructure, the company has invested in mining hardware manufacturing to reduce reliance on external suppliers, committing $36 million to a Nevada facility last month. Bitdeer has taken a distinct path from many publicly traded mining peers by fully liquidating its Bitcoin treasury earlier this year.
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