Bitdeer Lands $4.7B Deal for Norway AI Data Center

Bitdeer, a publicly traded Bitcoin mining and infrastructure firm, has signed a 16-year data center lease worth up to $4.7 billion. This deal marks the company's pivot towards artificial intelligence (AI) and high-performance computing capacity.

The agreement covers 121 megawatts of IT capacity at Bitdeer's Tydal, Norway AI data center, which will be configured for Nvidia GPU-based AI workloads. The tenant has been described as a subsidiary of Volta Infra, although the ultimate end customer remains unclear.

Bitdeer's approach to capital allocation differs from other major Bitcoin miners, who often hold large Bitcoin treasuries. Instead, Bitdeer sold its entire 943 BTC holding earlier this year to fund expansion efforts, including acquisitions of powered land for AI and Bitcoin mining infrastructure.