Bitdeer Leases Norway Facility for $4.7B AI Data Center Expansion

Bitdeer has made a significant move beyond Bitcoin mining by signing a $4.7 billion lease agreement to turn its Norway facility into an artificial intelligence (AI) and high-performance computing (HPC) data center.

The deal will provide Bitdeer with long-term income and limited risk, with the company expecting an average lease rate of about $202 per kilowatt each month and a 90% net operating income margin.

The facility will have 121 megawatts (MW) of IT capacity, supported by around 133 MW of total power, and will operate using 100% renewable hydropower from Norway.

Chief Financial Officer Michael G. Potter said, “This agreement is a key milestone in Bitdeer’s evolution as a global AI infrastructure platform.”