Bitdeer Technologies Group announced a major expansion of its artificial intelligence cloud business with a five-year customer agreement expected to generate approximately $400 million in contracted revenue. The deal covers roughly half the capacity at the company’s newly built 9.5 MW liquid-cooled data center in Malaysia, known as A102, and was signed with an undisclosed client described as having high credit quality.

Services under the agreement are scheduled to start in the first quarter of 2027, meaning the contract will not contribute to 2026 financial results. The arrangement includes a prepayment by the customer of more than half the related capital expenditures, reducing Bitdeer’s upfront funding burden for the project.

Details of the Malaysia Offtake Agreement

The A102 facility is engineered as a multi-customer site optimized for rack-scale NVIDIA GB300 NVL72 systems, supporting both training and inference workloads. It is designed to offer GPU cloud services and data hosting from the same location. Malaysia was selected for its reliable power supply and proximity to growing enterprise AI demand across Southeast Asia.

According to company statements, demand remains strong for the remaining unallocated capacity at the site. The prepayment structure shifts a substantial portion of construction risk away from Bitdeer and toward the contracted customer before any equipment is energized.

Potter also noted that Bitdeer AI’s active pipeline for additional AI cloud capacity now exceeds $2 billion, equivalent to approximately 24.5 MW.

Broader Expansion Targets and Strategy

Bitdeer AI aims to develop up to 350 MW of AI-ready data center capacity globally by the first quarter of 2028. The company plans to finance this growth through a combination of customer prepayments, operating cash flow, and financing secured against contracted revenue streams.

The firm’s data center network already spans sites in the United States, Norway, Bhutan, Canada, and Malaysia. Bitdeer holds NVIDIA Cloud Partner status, which provides preferential access to the latest GPU hardware.

The Malaysia agreement follows a separate 16-year lease signed earlier in August for 121 MW of AI computing capacity at a campus in Norway. That contract is valued at about $4.7 billion over its initial term, with an optional eight-year extension that could raise the total to roughly $8 billion. The Norwegian capacity is being configured for NVIDIA GPUs and is scheduled to come online in phases beginning at the end of 2026.

Shift From Mining Toward AI Infrastructure

Bitdeer was founded in 2021 as a spin-off from Bitmain and initially focused on Bitcoin mining. It trades on Nasdaq under the ticker BTDR. The company continues to operate mining facilities in multiple countries while steadily allocating capital and existing power and real estate assets to high-performance computing and AI workloads.

This approach mirrors a wider trend among publicly traded Bitcoin miners that are converting or expanding data center capacity to serve AI customers. Several peers have announced multi-year infrastructure agreements measured in the billions of dollars in recent months, using long-term power contracts and site access originally developed for mining operations.

Bitdeer shares rose about 7 percent on the day of the Malaysia announcement and continued higher in subsequent pre-market trading. The company reported second-quarter 2026 revenue of $228.8 million, up from $155.6 million a year earlier, alongside a net loss of $92.3 million and cash holdings of $496.3 million as of June 30.

The A102 deal marks a concrete step in Bitdeer’s effort to build contracted, prepaid AI cloud capacity ahead of full energization, supporting its multi-year target of 350 MW while managing capital intensity through customer commitments.