Bitdeer shares surged 23% on Tuesday after the company locked in a massive $4.7 billion, 16-year colocation lease for a data center campus in Tydal, Norway. The facility will house AI infrastructure in partnership with Volta, an NVIDIA Cloud Partner, starting with 121 IT megawatts of compute capacity configured for GPU workloads.
The deal structure splits into two phases. The initial 16-year term generates roughly $4.7 billion in contracted revenue, with an eight-year renewal option that could push total value to $8 billion over the full 24-year span. Bitdeer collects approximately $202 per kilowatt monthly under a modified gross lease, while the tenant covers electricity costs separately with 3% annual escalators built into both agreements.
J.P. Morgan affiliates are backing Volta's lease obligations with $1.3 billion in Letters of Credit, providing financial confidence to both parties. The Tydal campus will expand to 180 gross megawatts by late 2027, cementing Bitdeer's footprint in Norway where it has operated since 2018. CFO Michael G. Potter described the agreement as "a key milestone" in the company's transformation into a global AI infrastructure platform, citing partnerships with Dell Technologies and NVIDIA as integral to the arrangement.
Market reaction came swiftly. Trading volume spiked alongside the stock price as investors absorbed news of what amounts to a long-term revenue lock for a company riding the wave of AI compute demand. The deal reflects broader momentum in AI infrastructure deployment, where data center capacity remains a critical bottleneck for companies rolling out large language models and other compute-intensive applications.
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