Bitdeer AI has signed a five-year customer agreement expected to generate about $400 million from roughly half of its A102 data center capacity in Malaysia before the facility has been energi
Bitdeer AI has signed a five-year customer agreement expected to generate about $400 million from roughly half of its A102 data center capacity in Malaysia before the facility has been energized.
SummaryBitdeer AI said in a Wednesday announcement that the agreement covers about 50% of the A102 site’s available capacity and was signed with an undisclosed customer it described as being of “high credit quality.”
Revenue from the contract, along with the costs associated with delivering the service, is expected to begin in the first quarter of 2027 when operations under the agreement start.
The deal gives the Bitcoin miner’s AI business a contracted customer for a large portion of the Malaysian facility before commercial operations begin, while Bitdeer AI continues building data center capacity across several markets.
Under the five-year agreement, the unnamed customer will use about half of the available capacity at Bitdeer AI’s A102 facility in Malaysia.
Bitdeer did not disclose the customer’s identity or provide a detailed breakdown of the contract’s pricing structure. The company estimated total revenue from the agreement at approximately $400 million over its five-year term.
Service is scheduled to begin during the first quarter of 2027, meaning the contract is not expected to contribute revenue or related operating costs before then.
Securing a customer before energization reduces the amount of uncommitted capacity Bitdeer will need to commercialize once A102 enters operation. The company has not disclosed agreements covering the remaining capacity at the site.
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Malaysia is already part of Bitdeer’s AI operations. As crypto.news reported in June on, the company had been expanding AI cloud services while reviewing infrastructure across several countries for AI and colocation use. Its AI cloud annual recurring revenue stood at about $69 million during that period, according to company disclosures cited in the report.
Bitdeer has set a target of reaching 350 megawatts of AI cloud data center capacity by the first quarter of 2028, placing the Malaysian agreement within a multi-year buildout that includes both cloud computing and dedicated infrastructure contracts.
Bitdeer began as a Bitcoin mining company but has increasingly committed capital and existing infrastructure to artificial intelligence and high-performance computing.
The company still operates a large mining business, including sites in the United States, Bhutan, Norway and Ethiopia, while developing its own SEALMINER machines. Its AI business has expanded alongside those operations through GPU cloud services, data center conversions and long-duration infrastructure agreements.
Earlier this month, Bitdeer signed a 16-year lease covering 121 megawatts of AI computing capacity at its Tydal campus in Norway. The agreement carries about $4.7 billion in contracted revenue over its initial term.
Bitdeer said the entire 121 MW of contracted IT capacity at Tydal will be configured to run Nvidia GPUs for a leading AI lab through Volta, an Nvidia Cloud Partner. The project is being developed in two phases, with the first scheduled to begin operations at the end of 2026 and the second targeted for the first quarter of 2027.
The Norwegian agreement also contains an eight-year renewal option that could increase its potential contract value to about $8 billion over 24 years, according to Bitdeer. Electricity costs are set to be reimbursed by the tenant under the lease structure.
At the same time, the company has continued investing in its mining hardware operations. A July expansion included a $36 million manufacturing facility in Nevada focused on Bitcoin mining equipment, while its AI cloud and data center businesses remained separate from the production site.
Bitdeer is one of several publicly traded Bitcoin miners using existing access to power and data center sites to build businesses serving AI customers.
Hut 8 and IREN announced large contracts in July, with new AI infrastructure deals adding billions of dollars in contracted revenue for both companies. Hut 8 signed its second 15-year, $9.8 billion agreement at the Beacon Point campus in Texas, while IREN announced $2.8 billion in new multi-year AI cloud contracts.
Hut 8’s second contract covered another 352 MW of IT capacity, taking the tenant’s total contracted footprint at Beacon Point to 704 MW. Combined base-term contract value at the Texas campus reached $19.6 billion following the agreement.
IREN, meanwhile, raised its 2026 annualized AI cloud revenue target to more than $4 billion after signing the additional contracts. The company has also been developing hundreds of megawatts of cloud capacity as it puts more of its power portfolio toward GPU-based computing.
MARA Holdings has taken a different route into the same market. In July, the miner expanded its Texas footprint through an agreement to acquire a 1,200-acre powered site with planned grid capacity of up to 2 gigawatts for AI, high-performance computing and Bitcoin mining infrastructure.
TeraWulf has already reached the point where its computing business produces more quarterly revenue than its Bitcoin mining operation. During the first quarter of 2026, the company generated $21 million from high-performance computing hosting compared with less than $13 million from digital asset mining, according to its first-quarter revenue results.
Investors responded positively after Bitdeer disclosed the Malaysian customer agreement.
Bitdeer shares rose about 7% during Wednesday trading before adding nearly 6% in Thursday pre-market trading, according to Yahoo Finance data cited in the original report.
The stock was changing hands at about $10.20 as of 12:16 p.m. UTC on Thursday.
Bitdeer’s latest customer contract follows its second-quarter results earlier this month, when the company reported $228.8 million in total revenue compared with $155.6 million a year earlier. The company recorded a net loss of $92.3 million for the quarter and held $496.3 million in cash, cash equivalents, and restricted cash as of June 30.
Its data center portfolio continues to include both Bitcoin mining and AI facilities, with additional sites being assessed or converted for cloud and colocation workloads as capacity becomes available.
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