Bitdeer expands AI infrastructure with long-term $4.7B data center lease
A 16-year agreement secures 121 megawatts of AI computing capacity in Norway, highlighting how crypto mining companies continue to pursue new revenue streams beyond Bitcoin.
Bitdeer, a Bitcoin mining company, has secured a 16-year lease valued at $4.7 billion to expand its AI infrastructure in Tydal, Norway. The agreement secures 121 megawatts of data center capacity for AI and high-performance computing workloads. The tenant, identified only as a subsidiary of Volta Infra, will likely be Nvidia-backed cloud provider Anthropic, according to Bloomberg News.
To ensure the tenant's payment obligations, letters of credit worth around $1.3 billion are expected to be issued. Bitdeer's share price surged by 8% following the announcement, indicating a positive market response to the company's strategic diversification into AI infrastructure. The mining hardware manufacturer has been expanding its operations beyond Bitcoin mining, including a $36 million investment in a Nevada facility to reduce reliance on third-party suppliers.
Unlike many of its peers, Bitdeer has fully liquidated its Bitcoin treasury, selling 943 BTC to fund broader expansion, including AI and Bitcoin mining infrastructure. This move contrasts with several major Bitcoin miners who maintain substantial Bitcoin holdings.
Written by urgent.news from Cointelegraph's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
