Bitdeer Secures $4.7B Norway Lease Amid Rapid Expansion into AI Cloud and Hosting
Bitdeer Technologies Group Class A (NASDAQ:BTDR) has made significant strides in its business pivot, signing a 16-year Norway lease worth approximately $4.7 billion with potential to scale to $8 billion. The company sees this lease as a key asset in its expansion into AI cloud and hosting services.
The lease is not the only notable development for BTDR; it has maintained a zero-treasury policy since February 2026, selling Bitcoin weekly, including regular August liquidations after an earlier large sale. This approach reflects the company's commitment to managing risk and maintaining financial discipline.
BTDR's AI cloud segment has been growing rapidly, with annual recurring revenue (ARR) reaching approximately $86 million in August, a 13% month-over-month increase from July. The company is also investing in its A202 facility, which will host liquid-cooled, rack-scale NVIDIA GPUs for GPU cloud services and colocated data hosting.