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Bitdeer Technologies GroupNASDAQ: BTDR said it has entered the artificial intelligence infrastructure colocation market through a 16-year data center lease and services agreement at its Tydal campus in Norway.
The agreement, executed with Volta Tydal AS, a subsidiary of AI infrastructure platform Volta, represents approximately $4.7 billion in contracted revenue during its base term An embedded eight-year renewal option could raise the potential value of the arrangement to about $8 billion over 24 years
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Under the deal, Bitdeer will lease 121 IT megawatts, supported by 133 gross megawatts, to Volta. The facility will be configured across four existing data halls to operate NVIDIA Rubin GPUs, with Dell Technologies serving as the technology provider. Volta’s sole end customer at the site will be a leading AI lab, Basit said, without identifying the customer.
Two-Phase Delivery Schedule
The deployment is divided into two equal phases of 60.5 IT megawatts each. Phase one, spanning data halls two and three and a portion of data hall one, is targeted to begin Dec. 31, 2026. The second phase, covering data hall four and the remainder of hall one, is targeted to commence by March 31, 2027.
Bitdeer is also in the early development stages for two additional data halls at Tydal totaling 47 gross megawatts. Those halls are outside the Volta lease, with a target completion date in the second half of 2027. The company said it intends to retain flexibility for those remaining megawatts for AI and high-performance computing uses.
Basit described the agreement as a proof point for converting Bitdeer’s power assets into long-term contracted AI and HPC revenue. The company said it has approximately 3 gigawatts of capacity across multiple continents and sees the Tydal arrangement as a template for potential future contracts, including at North American sites.
Lease Economics and Financing Plans
Chief Financial Officer Michael Potter said the modified gross lease has an initial combined rate of about $160 per kilowatt per month, including base rent and service fees. Electricity costs will be reimbursed by the tenant on a pass-through basis, which Bitdeer said protects it from energy-price volatility.
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