Bitcoin mining company Bitdeer has signed a 16-year lease agreement worth up to $4.7 billion to secure 121 megawatts of AI computing capacity at its Tydal, Norway data center. The tenant, identified as a subsidiary of Volta Infra, will operate Nvidia GPU-based AI workloads. To secure the tenant’s payment obligations, affiliates of JP Morgan and another unnamed global financial institution are expected to issue approximately $1.3 billion in letters of credit. Bitdeer shares jumped about 8% in early Nasdaq trading following the announcement. The company has also sold all of its Bitcoin reserves, approximately 943 BTC, to fund its expansion strategy into AI infrastructure and mining.
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