Mining Giant Bitdeer’s Shares Surge 23%: A $4.7 Billion Deal
Bitdeer has taken a historic step in its transition from crypto mining to technology infrastructure provider with a massive $4.7 billion AI data center agreement signed in Norway.
One of the giants in the cryptocurrency mining world, Bitdeer, has demonstrated the most concrete example of a strategic transformation by shifting its focus entirely toward artificial intelligence (AI) infrastructure. The company announced that it has signed a billion-dollar agreement for a massive data center project to be established in Norway. This development reinforces the company’s vision of evolving from a mere mining firm into a global technology powerhouse.
Founded by Bitmain co-founder Jihan Wu, Bitdeer—through its subsidiary Tydal Data Center AS—signed a 16-year service agreement with Volta Tydal AS. The facility, to be built at the Tydal AI/HPC campus in Norway, will offer 121 MW of IT capacity. Reaching a total power level of approximately 133 MW, this center will serve as a critical base for high-performance computing and AI operations.
Bitdeer Shares Skyrocket After Massive Agreement
The financial scale of this giant collaboration has generated significant excitement in the markets. While approximately $4.7 billion in contracted revenue is expected during the first term of the agreement, it is projected that the total contract value could rise to $8 billion if the 8-year renewal option is exercised. Nasdaq-listed Bitdeer (BTDR) shares gained 23 percent in value immediately after the announcement, proving investor confidence in this strategic move.
The company’s move is regarded as the most powerful example of the strategy by crypto mining giants to pivot their energy capacity and technical expertise to the AI sector. This visionary step by the company led by Jihan Wu has made waves in the technology world. The high energy capacity provided under the agreement will accelerate digital transformation in the region while diversifying Bitdeer’s revenue streams. This massive contract, which could reach a total of $8 billion, positions Bitdeer as one of the most important infrastructure providers in the industry.