Bitdeer's artificial intelligence (AI) division, Bitdeer AI, has signed a five-year agreement with a customer covering roughly 50% of the capacity at its A102 site in Malaysia, even before the facility is powered up.
The agreement is with an unnamed customer with "high credit quality." Bitdeer expects the deal to bring in approximately $400 million in cumulative revenue, the company said in a statement on Wednesday.
Revenue and associated costs will begin to be accounted for in the first quarter of 2027, when Bitdeer AI begins providing services. By the first quarter of 2028, the division plans to scale its AI cloud computing data center capacity to 350 MW.
Bitdeer is among the bitcoin miners that have moved into the AI and high-performance computing infrastructure market to diversify revenue streams. In August, the company signed a 16-year, $4.7 billion lease for 121 MW of AI computing capacity in Norway.
Other bitcoin miners that have entered the AI infrastructure market include MARA Holdings, TeraWulf, Hut 8, and IREN.
On Wednesday, Bitdeer's stock rose 7%, and in pre-market trading on Thursday, it added almost 6%. As of 12:16 UTC, the shares were trading at $10.2, according to data.
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