Bitcoin mining company Bitdeer has announced that its artificial intelligence division, Bitdeer AI, has signed a five-year customer agreement covering approximately 50% of the capacity at its A102 facility in Malaysia. The deal was secured prior to the facility's energization.
According to Bitdeer's Wednesday announcement, the agreement is with an undisclosed customer described as having "high credit quality" and is projected to generate approximately $400 million in total revenue. Services are scheduled to begin in the first quarter of 2027, at which point revenue and associated costs are expected to start. Bitdeer AI has set a target of reaching 350 megawatts of AI cloud data center capacity by the first quarter of 2028.
Bitdeer is among several Bitcoin mining firms that have expanded into AI infrastructure and high-performance computing to diversify their revenue streams. In August, Bitdeer secured a 16-year lease valued at $4.7 billion for 121 megawatts of AI computing capacity at a facility in Norway. Other Bitcoin miners branching into AI infrastructure include MARA Holdings, TeraWulf, Hut 8, and IREN.
Following the announcement, Bitdeer's stock price rose by 7% on Wednesday and gained nearly 6% in pre-market trading on Thursday, trading at $10.20 per share as of 12:16 pm UTC, according to Yahoo Finance data.
