Bitdeer AI has signed a five-year customer agreement worth approximately $400 million, covering roughly half of the available capacity at the A102 data center in Malaysia. The contract was secured before the facility was energized or entered commercial operations, the company said in an official announcement.

Bitdeer described the unnamed customer as having “high credit quality.” Service delivery is scheduled to begin in the first quarter of 2027, with revenue and the related costs expected to start during the same period. Contracts signed ahead of a facility’s energization, often called pre-leasing, are a common structure in the data center industry, where securing an anchor tenant before power-up reduces the risk of building speculative capacity.

JUST IN: Bitdeer signs $400M five-year offtake deal for 4.75 MW AI cloud capacity in Malaysia.

— MSB Intel (@MSBIntel), August 20, 2026 — https://x.com/MSBIntel/status/2090382025656095076?ref_src=twsrc%5Etfw

How Bitdeer AI Is Expanding Globally

The identity of the customer was not disclosed, and the company did not detail the pricing model. No agreements have been reached for the remaining capacity at A102.

Malaysia has now become part of the firm’s AI activities. The country, and in particular the state of Johor next to Singapore, has become one of Southeast Asia’s fastest-growing data center markets, with global cloud and AI companies committing billions of dollars to Malaysian infrastructure in recent years. Bitdeer AI generates about $69 million per year in recurring cloud revenue; spread across five years, the new contract implies roughly $80 million annually, an amount comparable to that existing run rate. The company has been reviewing infrastructure in various countries for AI and colocation services. The firm plans to reach 350 MW of AI cloud data center capacity by Q1 2028, which makes tenant signings for the uncontracted half of A102 the nearest visible milestone.

Bitdeer originally operated as a Bitcoin mining company, running mining facilities in the United States, Bhutan, Norway, and Ethiopia, and producing its own SEALMINER machines. Today, its artificial intelligence division is engaged in GPU cloud services, data center conversions, and infrastructure contracts.

In early August, the firm signed a 16-year lease agreement at its Tydal campus in Norway. The contract provides 121 MW of AI computing capacity and approximately $4.7 billion in revenue over the initial contract period. All of the contracted capacity will be used to power Nvidia GPUs for a leading AI lab via Volta, a Nvidia Cloud Partner. The first phase is planned to launch by the end of 2026, with the second phase starting in early 2027. In addition, an eight-year renewal option could raise the total value of the agreement to as much as $8 billion over 24 years. According to the firm, electricity expenses will be compensated by the tenant under the agreement.

In July, the company announced a $36 million manufacturing facility in Nevada that will produce equipment for Bitcoin mining.

Bitcoin Miners Expand Into AI Infrastructure

Many Bitcoin mining companies have leveraged their capabilities in power and data center operations. Hut 8 and IREN have struck computing deals worth several billion dollars, while MARA has agreed to buy a powered Texas facility spanning 1,200 acres.

TeraWulf’s computing division has outpaced its mining division in quarterly revenues, reporting $21 million from HPC hosting services in Q1 2026, while mining operations brought in revenue below $13 million.

How Bitdeer Shares Responded

Bitdeer shares gained 9.81% during Thursday trading, reaching about $10.57. Earlier, the stock had risen nearly 6% in pre-market trading and traded near $10.20 (Source: Yahoo Finance).

The deal came after Bitdeer reported second-quarter revenue of $228.8 million, up from $155.6 million a year earlier. The company nevertheless recorded a net loss of $92.3 million. Bitdeer held $496.3 million in cash, cash equivalents, and restricted cash as of June 30. Its portfolio consists of Bitcoin mining and AI facilities.