The 16-year deal for 121 megawatts of AI computing capacity marks a shift for crypto miners into high-performance infrastructure.
Bitdeer, a Bitcoin mining firm, has signed a 16-year lease agreement worth up to $4.7 billion to provide AI and high-performance computing capacity in Norway. The deal secures 121 megawatts of IT capacity at its Tydal data center, configured for Nvidia GPU-based AI workloads.
The agreement reflects a broader trend of crypto mining companies diversifying into AI infrastructure amid rising demand for computing power. The tenant, a subsidiary of Volta Infra, remains undisclosed, though reports link Volta’s $10 billion cloud contract to Anthropic. The lease is pending customary closing conditions.
To mitigate payment risks, affiliates of JP Morgan and another global financial institution will issue $1.3 billion in letters of credit, ensuring Bitdeer’s revenue stream if the tenant defaults.