Bitdeer Signs Conditional Lease for Norway AI Data Center Site

Bitdeer (NASDAQ: BTDR) Technologies Group said its Norwegian subsidiary has signed a colocation lease agreement for the company’s Tydal, Norway AI data center site, marking another step in the bitcoin miner and infrastructure firm’s push into AI-related capacity.

The agreement, executed by Bitdeer’s wholly owned subsidiary Tydal Data Center AS, has not yet become effective and remains subject to several conditions outside Bitdeer’s control, the company said Monday. Those include the completion of certain external customer and supplier arrangements by the counterparty.

Bitdeer said there is no assurance that the conditions will be satisfied or that the lease will ultimately become effective.

The company did not disclose the customer, contracted capacity, lease duration, pricing terms or expected financial impact. Bitdeer said it expects to provide those details once the lease becomes effective, which it currently anticipates could happen within the next month.

Shares of Bitdeer rose about 4% in pre-market trading Monday following the announcement.

“Signing this agreement marks an exceptional step in Bitdeer’s execution of its global AI infrastructure strategy,” Haris Basit, Bitdeer’s chief strategy officer, said in the announcement.

The update comes as Bitdeer, historically known for bitcoin mining and mining hardware development, has been expanding its positioning around AI and high-performance computing infrastructure. The Tydal site is part of the company’s broader global data center footprint as miners increasingly seek to diversify revenue beyond bitcoin mining by converting or developing power-backed sites for AI and colocation customers.

The conditional nature of the lease means the announcement does not yet represent a finalized revenue-generating contract. Still, if completed, the deal would add to a growing list of bitcoin mining companies seeking to monetize large-scale power and data center assets through AI infrastructure leases.