Key facts
- Bitdeer has entered into a 16-year lease agreement valued at up to $4.7 billion for AI data center capacity.
- The lease secures 121 megawatts of IT capacity at Bitdeer's Tydal, Norway facility.
- The tenant is identified as a subsidiary of Volta Infra, which may be an intermediary for Anthropic.
- The facility will be configured for Nvidia GPU-based AI workloads.
- JP Morgan and an unnamed global financial institution will provide approximately $1.3 billion in letters of credit.
- Bitdeer shares increased by approximately 8% on Nasdaq following the announcement.
Bitcoin mining company Bitdeer has entered into a significant 16-year lease agreement valued at up to $4.7 billion to secure artificial intelligence and high-performance computing data center capacity in Norway. The deal, which is subject to customary closing conditions, will provide 121 megawatts of IT capacity at its Tydal facility to a tenant identified as a subsidiary of Volta Infra. This facility is designed to support AI workloads powered by Nvidia GPUs. Bloomberg News reported that Volta’s cloud contract is with Anthropic, citing sources familiar with the matter. To ensure the tenant's payment obligations, affiliates of JP Morgan and another unnamed global financial institution are expected to issue approximately $1.3 billion in letters of credit. The announcement led to an approximately 8% jump in Bitdeer's shares on Nasdaq, indicating investor approval of the company's strategic diversification. Bitdeer has been actively expanding beyond its core Bitcoin mining operations, investing in AI infrastructure and its own mining hardware manufacturing, including a recent $36 million investment in a Nevada facility. This strategy contrasts with many peers, as Bitdeer has fully liquidated its Bitcoin treasury to fund such expansions, while companies like MARA Holdings and Riot Platforms maintain substantial BTC holdings.