Bitdeer is accelerating its move beyond Bitcoin mining after securing a major artificial intelligence infrastructure contract for its upcoming data center in Malaysia.
The company’s AI division, Bitdeer AI, has signed a five-year customer agreement expected to generate approximately $400 million in revenue. The deal covers around half of the available capacity at Bitdeer’s A102 facility in Malaysia, even though the data center has not yet been energized.
The agreement provides Bitdeer with a major customer before commercial operations begin and represents another important step in the company’s broader expansion into AI cloud computing and high-performance computing infrastructure.
Bitdeer Secures Customer for Half of A102 Capacity
Under the five-year agreement, an undisclosed customer will use approximately 50% of the available capacity at Bitdeer’s A102 data center in Malaysia.
Bitdeer described the customer as being of “high credit quality,” although it did not reveal the company’s identity or provide a detailed breakdown of the contract’s pricing.
The agreement is expected to generate around $400 million over its five-year term.
Commercial service is scheduled to begin in the first quarter of 2027, meaning Bitdeer does not expect to recognize revenue or related operating costs from the contract until operations officially start.
Securing a customer at this stage gives Bitdeer an important advantage. Instead of completing the facility and then searching for companies to fill its computing capacity, the company already has a long-term commitment covering roughly half of the site.
The remaining capacity at A102 has not yet been tied to any publicly disclosed customer agreements.
Malaysia Becomes an Important Part of Bitdeer’s AI Expansion
Malaysia is becoming increasingly important to Bitdeer’s growing AI infrastructure business.
The company has been expanding its AI cloud services while evaluating infrastructure across multiple countries for cloud computing and colocation workloads.
Its AI cloud annual recurring revenue previously stood at around $69 million, highlighting how the business is developing alongside Bitdeer’s traditional Bitcoin mining operations.
The company now aims to reach approximately 350 megawatts of AI cloud data center capacity by the first quarter of 2028.
The A102 agreement fits directly into that strategy, providing Bitdeer with contracted revenue while its larger international AI infrastructure network continues to develop.
Bitdeer Is Moving Beyond Bitcoin Mining
Bitdeer originally built its business around Bitcoin mining, but artificial intelligence and high-performance computing are becoming increasingly important parts of its long-term strategy.
The company continues to operate Bitcoin mining facilities in markets including the United States, Bhutan, Norway and Ethiopia. It is also developing its own SEALMINER Bitcoin mining machines.
At the same time, Bitdeer has been directing more capital and infrastructure toward AI.
Its expansion includes GPU cloud computing, data center conversions and long-term infrastructure agreements with AI customers.
This approach allows Bitdeer to take advantage of something Bitcoin miners already have in large quantities: access to electricity and data center infrastructure.
With demand for AI computing continuing to grow, those resources can potentially be used for more than cryptocurrency mining.
Norway AI Deal Could Generate Billions
The Malaysian contract is not Bitdeer’s only major AI infrastructure agreement.
Earlier in August, the company signed a 16-year lease covering 121 MW of AI computing capacity at its Tydal campus in Norway.
That agreement carries approximately $4.7 billion in contracted revenue during its initial term.
The entire 121 MW of contracted IT capacity is expected to support Nvidia GPUs for a major AI lab through Volta, an Nvidia Cloud Partner.
Development is taking place in two phases. The first phase is scheduled to begin operating toward the end of 2026, while the second is expected to come online during the first quarter of 2027.
The Norwegian agreement also includes an eight-year renewal option.
If exercised, the potential contract value could increase to approximately $8 billion over 24 years.
Electricity expenses are expected to be reimbursed by the tenant, providing Bitdeer with additional protection against one of the largest operating costs associated with large-scale computing infrastructure.
Bitcoin Miners Are Turning Toward AI
Bitdeer is part of a much broader shift taking place across the Bitcoin mining industry.
Mining companies already control large amounts of power infrastructure, land and data center capacity. As demand for AI computing has increased, some miners have realized that these assets can also support GPU-heavy AI and high-performance computing workloads.
That has encouraged several publicly traded miners to sign long-term AI infrastructure agreements.
Hut 8, for example, has secured major AI leases at its Beacon Point campus in Texas. Its second 15-year agreement was valued at approximately $9.8 billion and covered an additional 352 MW of IT capacity.
The deal brought the customer’s total contracted footprint at the campus to 704 MW, with combined base-term contract value reaching approximately $19.6 billion.
IREN has followed a similar strategy.
The company announced approximately $2.8 billion in additional multi-year AI cloud contracts and increased its annualized AI cloud revenue target for 2026 to more than $4 billion.
MARA and TeraWulf Are Also Expanding Into AI
MARA Holdings has taken another route by expanding the infrastructure available for future AI and high-performance computing development.
The company agreed to acquire a 1,200-acre powered site in Texas with planned grid capacity of up to 2 gigawatts.
The enormous site could eventually support AI infrastructure, high-performance computing and Bitcoin mining operations.
TeraWulf’s transformation has already reached an important milestone.
During the first quarter of 2026, the company generated approximately $21 million from high-performance computing hosting, compared with less than $13 million from digital asset mining.
That means its computing infrastructure business produced more quarterly revenue than Bitcoin mining for the first time.
The shift demonstrates why miners with access to large power supplies are increasingly looking at AI as a potential second source of revenue.
AI Could Give Bitcoin Miners More Stable Revenue
Bitcoin mining revenue can be highly unpredictable because it depends on several factors, including Bitcoin’s price, network difficulty, mining competition and electricity expenses.
Long-term AI infrastructure contracts operate differently.
A multi-year agreement can provide a company with more predictable contracted revenue, particularly when customers commit to capacity before a data center becomes operational.
Bitdeer’s Malaysia agreement is a good example.
The company has effectively secured demand for around half of A102 before the facility begins commercial operations.
Its much larger Norwegian agreement goes even further, potentially locking in billions of dollars in revenue over several decades if the extension option is exercised.
This does not mean Bitdeer is abandoning Bitcoin mining. Instead, the company appears to be building a more diversified infrastructure business where mining, AI cloud computing and high-performance computing can operate alongside one another.
Bitdeer Shares Rise Following Malaysia Agreement
Investors responded positively to the announcement.
Bitdeer shares reportedly climbed around 7% during Wednesday’s trading session before gaining nearly another 6% in Thursday pre-market trading.
The stock was trading at approximately $10.20 as of 12:16 p.m. UTC on Thursday.
The market reaction came shortly after Bitdeer’s second-quarter financial results.
The company reported $228.8 million in quarterly revenue, up from $155.6 million during the same period a year earlier.
However, Bitdeer still recorded a net loss of $92.3 million for the quarter.
As of June 30, the company held approximately $496.3 million in cash, cash equivalents and restricted cash.
Bitdeer’s AI Strategy Is Taking Shape
The $400 million Malaysian contract gives Bitdeer another significant source of future contracted revenue as it builds out its AI infrastructure portfolio.
More importantly, the company secured the agreement before the A102 facility begins operating, reducing the amount of capacity it will need to sell after launch.
Combined with its multi-billion-dollar Norway agreement and its target of reaching 350 MW of AI cloud capacity by early 2028, the Malaysia deal shows how seriously Bitdeer is pursuing the AI infrastructure market.
Bitcoin mining remains an important part of the company’s operations, but its future growth may increasingly depend on serving another power-hungry industry: artificial intelligence.
As demand for GPUs, cloud computing and AI data centers continues to increase, Bitdeer’s existing experience with large-scale power and computing infrastructure could provide a foundation for a much broader business than Bitcoin mining alone.
