Bitdeer has locked in a 16-year agreement to supply 121 megawatts of artificial intelligence computing capacity from its Tydal campus in Norway. The deal, announced Tuesday, sent the company's shares up 12%.
The Tydal campus deal
The contract covers 121 MW of AI-dedicated capacity at Bitdeer's Norwegian facility. The company said the agreement runs for 16 years, with an option to extend by another eight years. If that extension is exercised, the total value could reach $8 billion.
Bitdeer didn't name the customer. The company described the counterparty only as a "leading AI company." The Tydal campus is already operational, and the new capacity will be delivered in phases.
Revenue potential and market reaction
The $8 billion figure assumes the full eight-year extension is taken. That's a big if, but investors didn't wait to see. Bitdeer shares jumped 12% on Tuesday, Aug. 4, as the market priced in the long-term commitment.
The deal gives Bitdeer a steady revenue stream for at least 16 years. AI computing demand has been surging, and Norway offers cheap hydropower — a key advantage for energy-hungry data centers.
Bitdeer's Tydal campus is one of the largest Bitcoin mining sites in Europe, but the company has been pivoting toward AI. This contract marks a major step in that shift.
The company didn't disclose the exact pricing per megawatt, but analysts can back-calculate from the $8 billion figure. At 121 MW for 16 years, the implied annual revenue is roughly $500 million — before any extension.
Bitdeer will need to deliver the capacity on schedule. The company hasn't said when the first phase goes live, but the 16-year clock starts now. Investors will watch for updates on the extension decision, which could come years down the road.
For now, the market is betting that AI demand will keep growing. If it does, that $8 billion ceiling might turn into a floor.
