Bitdeer Scores Big in $4.7B AI Data Center Lease

Bitdeer Technologies Group has made significant strides in its expansion into AI infrastructure and data centers. The company has secured a 16-year lease agreement valued at as much as $4.7 billion to provide 121 megawatts of IT capacity at its Tydal, Norway, AI data center.

The tenant, identified only as a subsidiary of Volta Infra, will use the facility for Nvidia GPU-based AI workloads. The lease remains subject to customary closing conditions and is not yet effective.

To secure the tenant's payment obligations, affiliates of JP Morgan and another unnamed global financial institution are expected to issue approximately $1.3 billion in letters of credit.

The agreement underscores Bitdeer's continued expansion into AI infrastructure as demand for computing power grows. The company has steadily diversified beyond its core Bitcoin mining business to broaden its revenue base.