Bitdeer Shares Rise 23% After $4.7 Billion AI Datacenter Deal in Norway

Bitdeer’s share price surges after the announcement of a megadeal for an AI data centre in Norway. The agreement represents a contract value of $4.7 billion and runs for sixteen years. Bloomberg reports that AI lab Anthropic is the unnamed client behind the project.

In brief:

• Bitdeer signs a sixteen-year agreement for an AI data centre in Norway valued at $4.7 billion.
• Anthropic is said to be the end client behind the deal, although the parties involved do not officially confirm this.
• Bitdeer’s share price rises 23% after the announcement.

Sixteen-year contract with option to extend

Bitdeer, founded by Jihan Wu, who previously co-founded chip machine manufacturer Bitmain, announced through subsidiary Tydal Data Center AS that it has signed a long-term contract with Volta Tydal AS. The agreement concerns the rental of data centre space and related services at the so-called Tydal AI/HPC campus in Norway.

The data centre delivers 121 megawatts of IT capacity, corresponding to a total power consumption of around 133 megawatts. The initial term of the contract is sixteen years, with an option to extend for eight years. If that option is exercised, the total contract value increases to approximately $8 billion. The announcement, Investing.com reports, immediately causes a significant jump in Bitdeer’s share price on the Nasdaq, with a rise of 23%.

Anthropic likely the end client

Bloomberg has revealed that the unnamed AI client behind the project is none other than Anthropic, the company behind the Claude chatbot. Anthropic is said to have signed a separate six-year contract with Volta Infra Holdings, the parent company of Volta Tydal. That agreement is worth approximately $10 billion and is partly made possible by chip giant Nvidia, which holds a stake in Volta Infra Holdings.

The physical infrastructure of the data centre uses hardware from Dell and the latest Nvidia Vera Rubin chips. None of the parties involved publicly confirms that Anthropic is the end client. The structure in which Bitdeer supplies the data centre space and Anthropic takes computing power via Volta shows how AI companies are increasingly securing their infrastructure through multiple intermediaries.