Via bitdeer.com
The former Bitcoin mining company continues its aggressive pivot to AI infrastructure with a deal covering half its new liquid-cooled data center
Bitdeer Technologies just secured roughly $400 million in contracted revenue for its AI cloud business, signing a five-year offtake agreement that covers about half the capacity at its new 9.5 MW data center in Malaysia. For a company that built its brand on Bitcoin mining, that’s a pretty emphatic statement about where it sees the future.
The deal, announced on August 19, involves a high-credit-quality customer who will prepay more than 50% of the associated capital expenditures. Services are set to begin in Q1 2027, meaning the agreement won’t contribute any revenue in 2026.
Inside the A102 facility #
The facility at the center of this deal is Bitdeer’s A102 site, a liquid-cooled AI cloud data center equipped with NVIDIA GB300 NVL72 systems. Those are NVIDIA’s latest rack-scale GPU systems designed for GPU cloud services and data hosting.
The A102 facility sits at 9.5 MW total capacity, and the new deal covers approximately 50% of that. The remaining capacity is reportedly generating strong interest from additional customers, which suggests Bitdeer could layer on a second major offtake agreement for the same site.
Malaysia was chosen for reasons that include robust power availability and proximity to Southeast Asia’s rapidly expanding enterprise AI market.
The bigger picture: 350 MW by 2028 #
This single deal is just one piece of a much larger strategy. Bitdeer AI has set an ambitious target of building out up to 350 MW of AI-ready data center capacity by Q1 2028.
The company plans to fund that expansion through a combination of customer prepayments, operating cash flow, and contracted financing. The prepayment structure in the Malaysia deal offers a template: get customers to front more than half the build-out costs, reducing the capital burden on Bitdeer while locking in long-term revenue.
Bitdeer AI’s active pipeline currently exceeds $2 billion, representing roughly 24.5 MW of additional capacity beyond what’s already committed. Negotiations are ongoing to fill the unallocated portions of the A102 site and secure customers for other planned locations, which span a global network including facilities in the US and Norway.
As a recognized NVIDIA Cloud Partner, Bitdeer occupies a preferential position in the GPU infrastructure ecosystem, with access to NVIDIA’s latest hardware.
From mining rigs to GPU racks #
Bitdeer’s transformation from a Bitcoin mining operation to an AI infrastructure provider follows a playbook several crypto-adjacent companies have pursued. Founded in 2021 as a spin-off from Bitmain, co-founded by Jihan Wu, the company is listed on NASDAQ under the ticker BTDR and has been making this pivot incrementally.
The prepayment structure deserves attention: when a customer agrees to cover more than half of capex upfront, it dramatically changes the risk profile of the project. Bitdeer isn’t speculating on whether demand will materialize. The demand already has a contract attached and money moving before the first GPU is spun up.
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