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Bitdeer Secures $4.7 Billion A.I. Data Centre Lease

Bitdeer Technologies (NASDAQ: $BTDR) has secured a $4.7 billion U.S. artificial intelligence (A.I.) data centre lease.

Bitdeer, a Bitcoin miner turned data centre operator, announced that its Tydal Data Centre subsidiary has signed a 16-year lease agreement to provide 121 megawatts of computing capacity at its Norway campus.

Nvidia (NASDAQ: $NVDA) will install its microchips and processors at the Norway facility, while Dell Technologies (NYSE: $DELL) will provide the needed computing systems.

Media reports say the customer for Bitdeer’s new A.I. lease is privately held startup Anthropic, although management at Bitdeer have not said publicly who the customer is.

The agreement marks a major step in Bitdeer’s expansion beyond Bitcoin mining and into A.I. infrastructure, where long-term leases can offer steady revenue.

Bitdeer said it expects average annual revenue of about $2.4 million U.S. for each megawatt of power that’s delivered.

That works out to approximately $290 million U.S. a year, with payments set to increase 3% annually.

The $4.7 billion U.S. figure represents payments scheduled over the full 16-year term of the deal rather than revenue Bitdeer can recognize immediately.

A potential eight-year extension of the lease would increase the total contract value to $8 billion U.S., said Bitdeer in a news release.

Bitdeer plans to open the facility in two phases, with the first one scheduled for Dec. 31, 2026.

Getting the data centre operational on time, will require Bitdeer to invest about $500 million U.S., or about $4 million U.S. for each megawatt of computing capacity.

BTDR stock has declined 18% over the last 12 months to trade at $10.64 U.S. per share.