Bitdeer signed a 16-year contract to run 121 megawatts of AI computing across its Tydal campus in Norway. The deal, struck with Volta Tydal AS and an unnamed major AI lab, locks in roughly $4.7 billion in revenue. An eight-year renewal option could push the total to $8 billion.
The numbers shows how crypto miners are pivoting hard toward AI infrastructure. Bitdeer will host Nvidia GPUs configured specifically for the customer's workloads, with Dell supplying the hardware. Monthly rent runs about $202 per kilowatt, a rate that reflects the premium margins on power-hungry AI capacity right now.
The Tydal facility sprawls across four data halls fed by Norwegian hydropower and is designed for extreme efficiency, hitting a power usage effectiveness ratio near 1.1. First phase opens by year-end 2026, second phase March 2027. Two more halls with 47 MW capacity come online in the second half of 2027. Bitdeer needs another $500 million to finish the build, but long-term power purchase agreements like this one typically unlock the financing.
The tenant can walk after 10 years without penalty, which caps upside somewhat. Still, this is a rare $8 billion commitment in data center space where most deals run three to five years. Bitdeer shares jumped 12% on the announcement.
This article is for informational purposes and does not constitute financial or investment advice.
