Bitdeer Secures $4.7B Norway Lease, Bitcoin Production Soars 322%

Bitdeer Technologies Group has secured a significant milestone in its expansion plans. The company has signed a $4.7 billion, 16-year lease agreement for an AI data center in Tydal, Norway. This massive contract covers 121 IT megawatts configured to run NVIDIA GPUs for an AI lab customer, a subsidiary of Volta.

The potential value of the contract could reach up to $8.0 billion with the inclusion of a one-time eight-year extension. To secure this deal, Bitdeer anticipates arranging a credit backstop of approximately $1.3 billion through letters of credit from affiliates of two financial institutions.

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

On the mining front, Bitdeer's bitcoin production surged by 322% year-over-year to 1,190 units in July. The self-mining hash rate reached 76.7 exahashes per second compared to 22.3 exahashes per second in July 2025.