Bitdeer signs US$4.7B Norway lease
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- Bitdeer signed a 16-year AI data centre lease worth up to US$4.7 billion in Norway.
- Bitdeer shares rose about 8% in early Nasdaq trading after the announcement.
- The company is expanding AI infrastructure as it diversifies beyond Bitcoin mining.
Bitdeer signed a 16-year lease worth up to US$4.7 billion for its Norway AI data centre.
The agreement covers 121 megawatts of computing capacity at Bitdeer’s Tydal facility for a Volta Infra subsidiary.
“Signing this agreement marks an exceptional step in Bitdeer's execution of its global AI infrastructure strategy,” said Bitdeer Chief Strategy Officer Haris Basit.
The lease remains subject to closing conditions, while about US$1.3 billion in letters of credit are expected to support payments.
Following the announcement, the Bitdeer share price was up about 8% in early Nasdaq trading.
Bitdeer invested US$36 million in a Nevada manufacturing facility last month as it expanded beyond Bitcoin (CRYPTO:BTC) mining.
The company also sold its roughly 943 BTC treasury to help fund its broader expansion strategy, according to executive Ross Gann.
At the time of reporting, Bitcoin price was $63,969.04.
