Bitdeer Secures $4.7B AI Data Center Lease and Sees Significant Bitcoin Production Growth

Bitdeer Technologies Group has announced a $4.7 billion, 16-year lease agreement for an AI data center in Tydal, Norway. The facility is expected to be operational by July 2026 and will have 121 IT megawatts of capacity configured with NVIDIA GPUs for an AI lab customer.

The tenant is a subsidiary of Volta, and the contract includes a potential one-time eight-year extension that could bring the total contract value to $8.0 billion. A credit backstop of approximately $1.3 billion will be arranged by affiliates of two financial institutions via letters of credit, subject to customary conditions.

Bitdeer's AI Cloud business reported annualized recurring revenue of approximately $76 million as of July 31, 2026, with 4,248 GPUs deployed at a 95% utilization rate. The company has 141.4 megawatts of AI Cloud pipeline capacity across six data centers in Malaysia, Norway, Washington, and Tennessee.

In related news, Bitdeer's self-mining hash rate reached 76.7 exahashes per second in July, compared to 22.3 exahashes per second in the same period last year. The company produced 1,190 bitcoin in July, a 322% increase from the previous year.