Bitdeer Technologies signed a $4.7 billion colocation lease for an AI data center in Tydal, Norway, sending its NASDAQ-listed shares up 23%. The facility is targeting roughly 180 megawatts of gross installed capacity and is scheduled to be operational by December 2026. The company liquidated its entire Bitcoin treasury and raised $325 million via a convertible notes offering to fund this expansion. Bitdeer’s AI Cloud division is already generating approximately $76 million in annualized recurring revenue at a 95% utilization rate, driven by Nvidia GPU deployment.
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