Bitdeer Signs $4.7B Lease for AI-Focused Data Center in Norway

Bitdeer, a Bitcoin mining company, has signed a long-term data center lease worth up to $4.7 billion in Norway. The agreement covers 121 megawatts of IT capacity at Bitdeer's Tydal facility and is dedicated to Nvidia GPU-based AI workloads.

The lease is for 16 years, which reduces the uncertainty about utilization and cash-flow stability, unlike Bitcoin operations where earnings can swing with network difficulty, power costs, and coin prices. The tenant behind the deal is a subsidiary of Volta Infra, but the full identity remains undisclosed.

Bitdeer's shares reportedly rose around 8% in early Nasdaq trading after the announcement, indicating that investors are receptive to the company's efforts to connect its energy and infrastructure capabilities with the AI compute cycle.

The deal adds to a broader trend of crypto infrastructure companies moving toward AI and high-performance computing. Bitdeer has been pursuing ways to reduce reliance on third-party supply for mining-related hardware and is trying to control more of its value chain while it pursues new, non-mining revenue streams.