Bitdeer AI locks in $400m Malaysia data centre deal

Bitdeer Technologies Group’s artificial intelligence division, Bitdeer AI, has secured a five-year contract for approximately 50 per cent of the capacity at its A102 AI data centre in Malaysia. The undisclosed customer, described by the company as having high credit quality, has committed to 9.5 megawatts of capacity, a deal expected to generate roughly $400 million in revenue over the contract period.

The A102 facility is designed for high-density computing and utilises liquid cooling to support NVIDIA GB300 NVL72 systems. Bitdeer stated that the contract will not contribute to revenue in the current year, with services scheduled to commence in the first quarter of 2027. This timeline aligns with the company’s broader target of achieving 350 megawatts of AI cloud data centre capacity by the first quarter of 2028, of which the A102 facility accounts for 9.5 megawatts.

Retainna Lin, VP of Bitdeer AI Cloud, noted that the company entered the competitive process later than other providers but delivered ahead of them. She said this enabled the customer’s business timeline and established the company’s credibility as it pursues additional AI cloud opportunities across its portfolio. Bitdeer’s pipeline for AI cloud capacity has now exceeded $2 billion, with negotiations currently underway for the remaining capacity at A102 and other sites.

The announcement follows a significant expansion in Norway earlier this month, where Bitdeer announced a 16-year lease worth $4.7 billion for 121 megawatts of AI computing capacity. The move is part of a broader trend among Bitcoin mining companies, including MARA Holdings, TeraWulf, Hut 8, and IREN, which are increasingly expanding into AI infrastructure and high-performance computing to secure revenue sources beyond cryptocurrency mining.

Bitdeer shares responded positively to the news, climbing approximately 7 per cent on Wednesday. On Thursday, the stock rose nearly 10 per cent, trading at $10.58 per share.