Key facts
- Bitdeer AI has entered into a five-year customer agreement for its A102 Malaysia facility.
- The deal is valued at approximately $400 million in total revenue.
- Revenue generation is expected to start in the first quarter of 2027.
- The company is targeting 350 megawatts of AI cloud data center capacity by the first quarter of 2028.
- Bitdeer's stock saw a 7% increase on Wednesday and a nearly 6% rise in pre-market trading on Thursday.
Bitcoin mining company Bitdeer's artificial intelligence division, Bitdeer AI, has secured a significant five-year customer deal for its upcoming A102 facility in Malaysia. The agreement, covering approximately 50% of the facility's capacity before its energization, is expected to generate about $400 million in total revenue.
Revenue and associated costs are slated to begin in the first quarter of 2027, coinciding with the commencement of services. Bitdeer AI is actively working towards establishing 350 megawatts of AI cloud data center capacity by the first quarter of 2028.
This move aligns Bitdeer with other Bitcoin miners, such as MARA Holdings, TeraWulf, Hut 8, and IREN, that are diversifying their revenue streams by venturing into AI infrastructure and high-performance computing. Earlier in August, Bitdeer also signed a 16-year lease valued at $4.7 billion for 121 megawatts of AI computing capacity in Norway.
Following the announcement, Bitdeer's stock price experienced a notable increase, rising 7% on Wednesday and an additional nearly 6% in pre-market trading on Thursday.