Bitdeer Signs $4.7B Colocation Lease for AI Data Center in Norway
Bitdeer Technologies Group has executed a 16-year colocation lease for a 225 MW AI data center in Tydal, Norway, valued at approximately $4.7 billion. The facility, which aims for completion by December 2026, marks a strategic shift towards AI infrastructure away from Bitcoin mining, potentially enhancing revenue stability for investors.
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Bitdeer Technologies Group's subsidiary, Tydal Data Center AS, has signed a 16-year colocation lease with Volta Tydal AS, covering 121 IT megawatts at their Tydal facility in Norway. The contract represents an estimated $4.7 billion in revenue, with an optional 8-year renewal potentially increasing the contract value to $8.0 billion.
The facility will utilize NVIDIA technology and is set to be completed in two phases, with Phase 1 expected by December 2026. Bitdeer plans to fund ongoing infrastructure development through additional debt capital. This pivot towards AI infrastructure could provide a more stable revenue stream, reducing reliance on cryptocurrency market fluctuations.
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