Bitdeer Secures $4.7 Billion AI Agreement in Norway, Stock Jumps 23%

Bitdeer Secures $4.7 Billion AI Contract

Bitdeer Technologies Group announced on August 4, 2026, that its subsidiary, Tydal Data Center, has entered into a substantial 16-year agreement with Volta Tydal AS. This contract, valued at $4.7 billion, involves the establishment of an artificial intelligence and high-performance computing campus located in Norway.

Project Details and Infrastructure Capacity

The Tydal campus is projected to provide 121 megawatts of IT capacity using renewable energy sources from Norway. Additionally, the contract includes an option for an eight-year extension, potentially increasing the total agreement value to around $8 billion over twenty-four years.

Under the terms, Bitdeer will retain full ownership of the Tydal facility, while Volta will handle global customer relationships, financing, and technology partnerships. The project is structured in two key construction phases, with expected completion dates in December 2026 and March 2027, although these timelines are subject to various execution risks.

Financial Projections and Contract Terms

Bitdeer’s business forecast suggests that the contract could generate approximately $4.7 billion in payments over its initial term. The lease agreement is expected to bring in around $2.4 million annually per IT megawatt with a projected net operating income margin of about 90%. However, it is important to note that these estimates derive from company projections rather than GAAP revenue.

Transitioning from Bitcoin Mining to AI Growth

This deal represents a strategic pivot for Bitdeer, moving some of its resources from Bitcoin mining towards AI colocation. Earlier in March, Bitdeer engaged Data Center Installations AS to transform Tydal into a leading facility built around advanced NVIDIA technology. The campus aims to be among Norway’s largest data centers tailored for AI applications.

Stock Market Response

After the announcement, Bitdeer’s shares experienced a notable increase, with the stock rising by 23% as investor confidence bolstered interest in long-term AI infrastructure contracts. Despite this, potential risks related to construction and financing remain pertinent. Prior to the announcement, shares were around $11.37, marking a 7.8% increase from the previous close.

Future Financial Outlook

The company is currently managing around $500 million in capital expenditures and plans to seek additional debt financing to support construction. Volta’s commitment is anticipated to cover about $1.3 billion through letters of credit from major financial institutions, with support subject to standard conditions. Bitdeer faces potential risks if Volta fails to meet specific milestones and may also terminate the agreement under certain circumstances.

In an upcoming earnings report scheduled for August 10, Bitdeer is expected to provide further insights regarding financing arrangements, construction timelines, and updates on the anticipated revenue from the Tydal campus.