BTDR Stock Rallies After Landing $4.7B AI Infrastructure Contract In Norway

The contract covers 121 megawatts of AI infrastructure at Bitdeer's Tydal campus in Norway and could expand to $8 billion if an eight-year renewal option is exercised.

• Bitdeer signed a 16-year AI data center agreement expected to generate $4.7 billion in contracted revenue.
• The customer is a leading AI lab, with Dell supplying the technology through NVIDIA Cloud Partner Volta.
• The project is expected to deliver roughly 90% operating margins, according to the company.

Shares of Bitcoin (BTC) mining and digital infrastructure company Bitdeer (BTDR) rallied on Tuesday morning after the company announced a $4.7 billion AI data center deal in Norway, with Dell (DELL) supplying the technology for a leading AI lab through Nvidia (NVDA) Cloud Partner Volta.

The 16-year deal is one of the largest deals in the company’s history amid its pivot from being a pure-play Bitcoin miner to a provider of infrastructure for data centers and high-performance computing (HPC). 

BTDR stock rallied over 10% in morning trade, with retail sentiment on Stocktwits around the shares rising to ‘bullish’ from ‘neutral’ territory over the past day. Meanwhile, NVDA stock rose around 2%, and DELL stock gained over 7% amid a broader rally in the Nasdaq 100. The ETF that tracks the tech-heavy Nasdaq 100, the Invesco QQQ Trust Series 1 (QQQ), was up over 2% in the morning hours. 

Bitdeer Signs Multi-Billion Dollar AI Contract

Bitdeer's AI cloud business signed the agreement through its subsidiary, Tydal Data Center AS, an NVIDIA Cloud Partner. The facility will provide 121 megawatts (MW) of AI computing capacity at Bitdeer's Norway campus for a leading AI lab.

The contract is expected to generate approximately $4.7 billion over its initial 16-year term. An optional eight-year extension would increase the total value to about $8 billion over 24 years.

The project will be delivered in two phases, with the first data halls expected to come online by the end of 2026 and the second phase in early 2027. Bitdeer is also developing another 47 MW of capacity for future AI and high-performance computing customers, bringing the campus to roughly 180 megawatts.

The company said the facility will run entirely on renewable hydropower.

Bitdeer said the agreement is backed by approximately $1.3 billion in anticipated letters of credit arranged by affiliates of JPMorgan and another major financial institution.

It estimated that the project will deliver operating margins of around 90%. The company said about $500 million of capital spending remains to complete the campus and plans to raise additional debt to fund the buildout.