Bitdeer inks deal to build Norway's largest AI data center for Nvidia's next-gen chips

Bitdeer Technologies, the bitcoin miner pivoting towards providing high-performance computing and infrastructure to the booming artificial intelligence industry, said Monday it has closed a deal to build Norway's biggest AI data center.

Once finished, the data center will be used "primarily" to support Nvidia's next-generation Vera Rubin AI technology, the company said in a statement.

Officially, Bitdeer subsidiary Tydal Data Center AS, or TDC, entered into an agreement with the Norwegian contractor Data Center Installations AS, or DCI, to "build and convert" an existing facility to support Nvidia's latest technology.

The move comes as Bitdeer (BTDR) and other bitcoin miners lean more heavily into supporting the growing AI industry with computing power and infrastructure. Notably, the company recently reported it had emptied its corporate bitcoin treasury. That came shortly after Bitdeer said it planned to raise $300 million through a private placement of convertible senior notes.

Providing support to the AI industry has become more attractive for bitcoin miners as mining has become less profitable.

"The transformation of our Tydal facility is a cornerstone of Bitdeer's global strategy to meet the explosive demand for AI data centers," TDC co-founder and Chairman Haakon Bryhni said in the statement. "By transforming our existing footprint to large AI deployments, TDC will be at the forefront of the AI revolution while maintaining sustainable, capital-efficient growth and substantial local value creation."

Bitdeer's shares were down over 2% in early trading on Monday.