Bitdeer Signs $400 Million AI Cloud Computing Deal for Malaysia Facility
Key Takeaways
- •Bitdeer AI signed a five-year contract with an undisclosed customer described as having high credit quality, covering about 50% of the capacity of its A102 Malaysia facility before energization.
- •The agreement is expected to generate approximately $400 million in total revenue, averaging roughly $80 million per year, with revenue and costs beginning in the first quarter of 2027.
- •Bitdeer AI is targeting 350 megawatts of AI cloud data center capacity by the first quarter of 2028, though fulfilling the contract depends on the buildout coming online on schedule.
- •Earlier in August, Bitdeer signed a 16-year lease valued at $4.7 billion for 121 megawatts of AI computing capacity in Norway, extending its buildout across Asia and Europe.
- •Bitdeer's stock rose 7% on Wednesday and traded at $10.2 a share, while other Bitcoin miners diversifying into AI infrastructure include MARA Holdings, TeraWulf, Hut 8 and IREN.
Bitdeer expects revenue from the five-year agreement to begin in early 2027 as it builds toward 350 megawatts of AI cloud capacity by 2028.
Bitcoin mining company Bitdeer’s artificial intelligence division, Bitdeer AI, has signed a five-year customer deal covering about 50% of the capacity of its A102 Malaysia facility before energization.
The agreement was signed with an undisclosed customer described as having “high credit quality” and is expected to generate approximately $400 million in total revenue — an average of roughly $80 million per year over the contract’s term — Bitdeer said in a Wednesday announcement.
Revenue and associated costs are expected to begin in the first quarter of 2027, when services are scheduled to start. Bitdeer AI is targeting 350 megawatts of AI cloud data center capacity by the first quarter of 2028. Committing a creditworthy customer before the facility is energized anchors roughly half of A102’s capacity ahead of power-on, though fulfilling the contract still depends on the buildout coming online on schedule.
Bitdeer is among the Bitcoin miners that have expanded into AI infrastructure and high-performance computing in an effort to diversify revenue streams. The sector-wide pivot has accelerated since the April 2024 Bitcoin halving cut the block subsidy from 6.25 BTC to 3.125 BTC and compressed mining economics, and it comes as demand for AI compute has outpaced available data center capacity. Earlier in August, Bitdeer signed a 16-year lease valued at $4.7 billion for 121 megawatts of AI computing capacity in Norway, extending the company’s buildout across Asia and Europe.
Other Bitcoin miners that have expanded into AI infrastructure include MARA Holdings, TeraWulf, Hut 8 and IREN.
The milestones ahead include the start of services at A102 in the first quarter of 2027, progress toward the 350-megawatt target by the first quarter of 2028, and how the facility’s remaining capacity is contracted.
Bitdeer’s stock price rose 7% on Wednesday and nearly 6% in pre-market trading on Thursday, changing hands at $10.2 a share as of 12:16 pm UTC, according to Yahoo Finance data.
