Bitdeer AI signed a five-year deal worth about $400 million, covering roughly half the capacity of its A102 Malaysia facility before the site even goes live. Revenue starts in early 2027 as the Bitcoin miner pushes further into AI infrastructure alongside a $4.7 billion Norway lease signed earlier this month.
Bitdeer locks in $400 million AI customer
Bitdeer AI, the artificial intelligence unit of Bitcoin mining company Bitdeer, signed a five-year customer deal covering about 50% of the capacity of its A102 Malaysia facility before its energization. According to Bitdeer: "high credit quality" describes the undisclosed customer, with the deal expected to bring approximately $400 million in total revenue.
Revenue and associated costs are expected to begin in the first quarter of 2027, when services commence. Bitdeer AI is targeting 350 megawatts of AI cloud data center capacity by the first quarter of 2028.
Miners keep chasing AI revenue
Bitdeer is among the Bitcoin miners that expanded into AI infrastructure and high-performance computing to diversify revenue streams. Earlier in August, the company signed a 16-year lease valued at $4.7 billion for 121 megawatts of AI computing capacity in Norway. Other Bitcoin miners that expanded into AI infrastructure include MARA Holdings, TeraWulf, Hut 8 and IREN.
The stock 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.
Sources: Bitdeer, Cointelegraph.com News
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