Bitdeer Agrees to Massive $4.7B AI Data Center Deal in Norway

Bitdeer, a leading cryptocurrency mining company founded by Jihan Wu, has made significant strides in its transition from crypto mining to technology infrastructure provision. The company has signed a massive $4.7 billion agreement with Volta Tydal AS for the establishment of a 121 MW data center project at the Tydal AI/HPC campus in Norway.

The facility will serve as a critical base for high-performance computing and AI operations, providing approximately 133 MW of IT capacity. The deal is expected to generate $4.7 billion in contracted revenue during the first term of the agreement, with the potential to rise to $8 billion if the 8-year renewal option is exercised.

The company's shares skyrocketed by 23% immediately after the announcement, reflecting investor confidence in this strategic move. This shift from crypto mining to AI infrastructure provision marks a significant milestone for Bitdeer and positions it as one of the most important infrastructure providers in the industry.