Bitdeer Inks $4.7B Lease for AI Data Center Amid Crypto Computing Boom

Bitdeer, a Bitcoin mining company, has signed a 16-year lease agreement for its Tydal, Norway AI data center. The deal is valued at up to $4.7 billion and will provide 121 megawatts of IT capacity to a subsidiary of Volta Infra.

The facility will be configured to support Nvidia GPU-based AI workloads. To secure the tenant's payment obligations, affiliates of JP Morgan and another unnamed global financial institution will issue approximately $1.3 billion in letters of credit.

Bitdeer shares jumped about 8% in early Nasdaq trading following the announcement. This comes as the company continues to diversify beyond its core Bitcoin mining business, expanding into AI infrastructure and data centers.