Bitdeer Technologies has secured a 16-year lease agreement to provide 121 megawatts of computing capacity at its Norway data centre, marking a strategic expansion into artificial intelligence infrastructure.

Key Points

• The agreement is valued at $4.7 billion over 16 years, with potential for an eight-year extension increasing the total contract value to $8 billion.
• Bitdeer expects annual revenue of approximately $290 million, featuring a 3% annual payment increase.
• The company plans to invest $500 million to bring the facility online, with the first phase scheduled for completion by December 31, 2026.
• Media reports identify the undisclosed customer for the high-performance computing capacity as the artificial intelligence startup Anthropic.

Why it Matters

This deal signals a significant pivot for Bitdeer as it diversifies from Bitcoin mining into the high-demand market for artificial intelligence data infrastructure. By securing long-term, stable revenue streams, the company aims to stabilize its financial outlook amid recent volatility in its stock price.