Bitdeer AI, the artificial intelligence division of Bitcoin mining firm Bitdeer Technologies Group, has signed a five-year agreement valued at approximately $400 million with an unnamed, high-credit-quality customer. Announced on Wednesday, August 19, 2026, the contract covers about 50% of the capacity at its upcoming A102 facility in Malaysia ahead of site energization.
Financial obligations and revenue generation are scheduled to begin in the first quarter of 2027 as computational services commence. The deal represents a key milestone in Bitdeer’s effort to build out 350 megawatts of AI cloud data center capacity by the first quarter of 2028.
The agreement reflects a broader movement among crypto miners, including MARA Holdings, TeraWulf, Hut 8, and IREN, to diversify revenue by reallocating power assets toward high-performance computing (HPC) and AI hosting.
The announcement follows a 16-year lease signed earlier in August 2026 for 121 megawatts of AI computing capacity in Norway, valued at $4.7 billion. Following the disclosure, Bitdeer’s stock (NASDAQ: BTDR) rose 7% on Wednesday and gained nearly 6% in Thursday pre-market trading, hovering around $10.20 per share.
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