Bitdeer Signed 16-Year Norway Data Center Lease
The agreement repurposes a former Bitcoin mine for 121 megawatts of dedicated AI compute capacity.
Updated on Oct. 5, 2026 in Data Centers
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On August 4, 2026, Bitdeer Technologies Group announced a 16-year colocation lease with Volta Tydal AS for a data center in Norway. This facility converts a former Bitcoin mining site into dedicated infrastructure for AI workloads.
Why it matters
The project addresses the rising demand for high-density AI infrastructure by repurposing existing energy-intensive sites. It leverages Norway's 100% renewable hydropower to support large-scale computing needs.
The agreement secures 121 IT megawatts of capacity at an average rate of $202 per kW per month with 3% annual escalators. Volta Tydal AS is backing its financial obligations with $1.3 billion in letters of credit.
The players
Bitdeer Technologies Group
A crypto-mining firm transitioning into AI infrastructure by repurposing its industrial-scale data center capacity.
Volta Tydal AS
A venture-backed entity with a $2.4 billion valuation that is securing large-scale compute leases for AI development.
Anthropic
An AI research lab reportedly involved in a multi-billion dollar partnership for high-density compute resources.
The details
Bitdeer is transforming the Tydal campus into an AI-ready facility by retrofitting infrastructure originally designed for cryptocurrency mining. This conversion requires an additional $500 million investment to meet the technical demands of high-density AI clusters, which prioritize thermal management and power stability. The site utilizes Norway's hydropower grid to sustain the intensive cooling and compute requirements of the hardware.
Timeline
August 4, 2026: Bitdeer announced the lease agreement with Volta.
December 31, 2026: Target completion date for the first phase of construction.
March 31, 2027: Target completion date for the second phase of construction.
The Tech Race
This project represents a significant move in the industry-wide trend of repurposing energy-intensive cryptocurrency mining sites to meet the massive power demands of AI compute clusters. It follows other efforts to secure specialized, low-carbon environments for the intensive training of next-generation models.
While this facility will not directly serve individual end users, it expands the total global compute capacity available for large-scale AI research. The project remains in the construction phase, with the first phase of site availability scheduled for late 2026.
The takeaway
The race to secure power-dense, green energy sites is forcing a transition from proof-of-work crypto mining to AI infrastructure. Investors should track the phase-two construction milestone on March 31, 2027, as a gauge for whether these repurposed assets meet operational latency and density requirements.
Further reading
For more on how infrastructure scale influences performance, visit the Data Centers section.
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Do you support repurposing former cryptocurrency mining sites to accommodate artificial intelligence infrastructure?
