BitDeer signed a $4.7 billion, 16-year colocation lease with Volta for an AI and high-performance computing data center in Tydal, Norway, according to the company's announcement. The contracted revenue spans the full lease term and marks BitDeer's shift from cryptocurrency mining operations toward AI infrastructure.
BitDeer retains ownership of the facility while Volta, a data center operator, manages capacity allocation and operations. The lease was signed conditionally on June 29 and disclosed publicly on August 4 with Volta named as the anchor tenant. The deal converts a site BitDeer originally developed for bitcoin mining into dedicated AI compute space as demand for data center capacity from large language model trainers and inference operators has accelerated.
BitDeer, a Nasdaq-listed mining and infrastructure firm, has repositioned its real estate portfolio toward AI workloads over the past 18 months. The Norway facility operates at scale; Tydal offers hydroelectric power access and sits within the Nordic cluster that attracts major cloud and AI operators. Volta operates data centers across Northern Europe and has expanded its footprint as energy-intensive AI training shifted geography to regions with lower power costs and renewable supply.
The $4.7 billion figure represents total contracted revenue; the actual annual cash flow depends on capacity levels and per-megawatt pricing that Volta negotiates with its tenants. BitDeer's shift to the colocation model transfers operational risk to Volta while locking in long-term revenue from a single anchor tenant. The move follows broader repositioning in the crypto-mining hardware sector, where operators with owned land and power contracts are leasing capacity to AI infrastructure buyers rather than purchasing and operating mining rigs directly.
Over a 16-year term, the deal averages roughly $294 million in annual contracted revenue, though BitDeer does not disclose the pricing structure or assumptions underlying the figure. If fully realized at that average, the lease would represent a material revenue stream for a company whose total revenue in the first half of 2026 was approximately $131 million across all business lines. No public competitor in the crypto-mining-to-AI-infrastructure space has disclosed a single lease at this scale.
