- Bitdeer leased its Norway campus for 16 years for $4.7 billion.
- According to the press, Anthropic is the end recipient of the computing capacity.
- Bitdeer shares jumped on the news.
Bitdeer announced that it has signed a 16-year equipment lease agreement at its facility in Norway with Volta Tydal AS worth $4.7 billion. On the back of the announcement, the miner’s share price jumped by more than 12%.
The agreement covers Bitdeer’s site in the municipality of Tydal, Norway. The facility has a total capacity of 180 MW and will be repurposed from cryptoasset mining to serve the AI sector.
Under the agreement, Tydal Data Center AS (TDC), a Bitdeer subsidiary, commits to provide 121 MW of power out of a total capacity of 133 MW. The remainder — additional parts of the campus — are slated to be leased out in 2027.
The deal includes an option to extend for another eight years. Over time, this would bring Bitdeer total proceeds of $8 billion over 24 years.
The release also states that all 121 MW of compute capacity will be configured with Nvidia GPUs for the needs of a “leading AI lab.”
Bloomberg reported that the lab in question is Anthropic. According to the outlet’s sources, the company signed a $10 billion agreement with Volta Infra Holdings Ltd, the parent company of Volta Tydal AS.
In other words, the miner Bitdeer leased most of its campus to Volta Tydal AS. It will operate and maintain the infrastructure built on Nvidia chips. Anthropic is the end recipient of the compute capacity.
On the news, Bitdeer shares jumped from $11.2 to $12.6 — up 12.5%.
Like other miners, Bitdeer is actively expanding into the AI sector. As MARA’s CEO, the head of one of the largest crypto mining companies, noted earlier, it is simply more profitable right now to spend electricity on computing for AI labs.
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