Bitdeer Secures Major AI Deal to Diversify Beyond Bitcoin

Bitdeer is expanding its operations beyond Bitcoin mining by signing a significant 16 year lease for its data center in Norway. The agreement, valued at a potential $4.7 billion over the full term, provides 121 megawatts of computing capacity to Volta. While the company described the end customer as a leading AI laboratory, reports point to Anthropic as the primary user of this infrastructure.

To turn this deal into consistent revenue, Bitdeer faces a tight schedule. The company must complete a $500 million build to get the facility running in two phases. The first phase is set to begin by the end of 2026, with the full capacity expected online by March 2027. Bitdeer plans to raise new debt to cover these construction costs, though it has not yet confirmed the final terms of that financing.

This shift into AI infrastructure offers Bitdeer a way to generate revenue that is more stable than traditional crypto mining. Because the company retains full ownership of the site and has avoided issuing shares to fund this deal, the expansion could be a positive move for shareholders. Still, the market will be watching closely to see if the company can secure the necessary capital and hit its first delivery deadline on time.