Crypto
Home›Crypto›Market Structure›Bitdeer signs 16-year Norway lease for up to $4.7B in…
Bitdeer signs 16-year Norway lease for up to $4.7B in AI capacity
The deal would supply 121 megawatts of IT power for Nvidia GPU-based AI workloads at Bitdeer’s Tydal data center, with letters of credit expected to total about $1.3 billion.
Cointelegraph reports that Bitcoin mining company Bitdeer has signed a 16-year lease agreement valued at as much as $4.7 billion to secure artificial intelligence and high-performance computing capacity at its Tydal, Norway, AI data center.
Under the agreement, Bitdeer will provide 121 megawatts of IT capacity to a tenant identified only as a subsidiary of Volta Infra. The facility is intended to support Nvidia GPU-based AI workloads, though Bitdeer did not disclose the tenant’s identity or whether Volta is the end customer or an intermediary.
Cointelegraph adds that the lease is subject to customary closing conditions and is not yet effective. To back the tenant’s payment obligations, Bitdeer expects affiliates of JP Morgan and another unnamed global financial institution to issue approximately $1.3 billion in letters of credit.
Following the announcement, Bitdeer shares reportedly jumped about 8% in early Nasdaq trading, reflecting investor interest in the company’s shift beyond its core mining business toward AI infrastructure and data centers.
Latest closeBitcoin $64,040.55 ▲0.9%|Nasdaq Comp. 25,913.90 ▲2.1%