Bitdeer said its AI unit, Bitdeer AI, has signed a five-year customer agreement tied to about half of the capacity at its A102 facility in Malaysia before the site is energized. The company said the contract, signed with an undisclosed customer it described as having high credit quality, is expected to generate about $400 million in total revenue.
Bitdeer expects service to begin in the first quarter of 2027, when revenue and related costs will start to be recognized. The company is aiming to build 350 megawatts of AI cloud data center capacity by the first quarter of 2028.
The agreement adds to Bitdeer’s push beyond Bitcoin mining into AI infrastructure and high-performance computing. Earlier in August, the company signed a 16-year lease worth $4.7 billion for 121 megawatts of AI computing capacity in Norway. Yahoo Finance data showed Bitdeer shares rose 7% on Wednesday and were up nearly 6% in premarket trading on Thursday, reaching $10.2 as of 12:16 pm UTC.
Bitdeer said its artificial intelligence unit, Bitdeer AI, has signed a five-year customer agreement covering about 50% of the capacity at its A102 facility in Malaysia before the site is energized.
In a Wednesday announcement, the Bitcoin mining company said the contract was signed with an undisclosed customer of “high credit quality” and is expected to bring in about $400 million in total revenue.
Revenue expected to start in Q1 2027
Bitdeer said revenue and associated costs are expected to begin in the first quarter of 2027, when services commence. The company is targeting 350 megawatts of AI cloud data center capacity by the first quarter of 2028.
Part of a broader AI infrastructure push
Bitdeer is among Bitcoin miners moving into AI infrastructure and high-performance computing as they seek 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 have expanded into AI infrastructure include MARA Holdings, TeraWulf, Hut 8 and IREN.
Shares rose on Wednesday and in Thursday premarket
According to Yahoo Finance data, Bitdeer shares rose 7% on Wednesday and gained nearly 6% in premarket trading on Thursday. The stock changed hands at $10.2 as of 12:16 pm UTC.
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