Bitdeer Signs $4.7 Billion Data Center Lease To Expand AI Infrastructure

Bitcoin mining company Bitdeer has entered a 16-year lease agreement worth up to $4.7 billion to provide artificial intelligence and high performance computing capacity, marking the latest example of crypto miners branching into AI infrastructure as computing demand grows.

Deal Details

Under the agreement, Bitdeer will supply 121 megawatts of IT capacity at its data center in Tydal, Norway, to a tenant identified only as a subsidiary of a company called Volta Infra. The facility will be built to support Nvidia GPU-based AI workloads.

Bitdeer hasn’t disclosed the tenant’s full identity or clarified whether the named company is the actual end user or an intermediary, though separate reporting has linked Volta to a major cloud computing contract with an AI company. The lease still needs to clear standard closing conditions and isn’t yet in effect. To back the tenant’s payment obligations, affiliates of a major bank along with another unnamed financial institution are expected to issue roughly $1.3 billion in letters of credit as a guarantee.

Investors Respond Positively

Bitdeer shares jumped about 8% in early Nasdaq trading following the announcement, signaling investor approval of the company’s continued push into AI and data center infrastructure.

Diversifying Beyond Bitcoin Mining

The lease is part of a broader strategy by Bitdeer to build revenue streams beyond its core mining business. The company has also expanded its own mining hardware manufacturing to cut reliance on outside suppliers, including a recent investment in a Nevada manufacturing facility.

Bitdeer Sells Off Its Entire Bitcoin Holdings

Unlike many of its publicly traded peers, Bitdeer has taken the unusual step of fully liquidating its bitcoin treasury. Earlier this year, the company held under 1,000 BTC before selling down to zero holdings, while maintaining it remains committed to the broader bitcoin ecosystem.