Bitdeer inks 16-year AI data center lease; shares jump 11.7% premarket

Bitdeer said its subsidiary, Tydal Data Center AS, has signed a 16-year hosting lease and services agreement with Volta Tydal AS for an AI/HPC campus in Tydal, Norway, according to ChainThink. Under the deal, Bitdeer will supply 121 MW of IT power capacity (about 133 MW in total), fully configured with NVIDIA GPUs, to support a leading AI laboratory. Bitdeer expects approximately $4.7 billion in contract revenue over the initial term. The agreement includes an additional 8-year renewal option, lifting potential total contract value to about $8 billion. The company said the enhanced gross lease rate averages roughly $202 per month per kilowatt. Electricity costs will be reimbursed by tenants, and the contract includes a 3% annual escalation clause. Bitdeer projects a net operating income (NOI) margin of around 90% and annual revenue of about $2.4 million per IT megawatt. On the news, Bitdeer shares rose 11.7% to $12.77 in U.S. premarket trading.