Bitdeer has secured a $400 million AI contract for its Malaysia facility, marking a definitive pivot toward high-performance computing.

Bitdeer AI has secured a five-year customer agreement expected to generate approximately $400 million from roughly half of the available capacity at its A102 data center facility in Malaysia. Announced on Wednesday, the contract was signed with an undisclosed client described as having “high credit quality.” Bitdeer did not reveal the customer’s identity or provide a detailed pricing breakdown. Because the agreement was finalized before the facility is energized, it significantly reduces the uncommitted capacity Bitdeer will need to commercialize upon launch. Service is scheduled to commence in the first quarter of 2027, meaning neither revenue nor associated operating costs will be recognized prior to that date. The company has not yet disclosed agreements covering the remaining capacity at the A102 site.

Securing this anchor tenant positions the Malaysian project within Bitdeer’s broader multi-year infrastructure strategy. As reported by crypto.news in June, the company had been expanding AI cloud services while reviewing infrastructure across several countries for AI and colocation use. At that time, Bitdeer’s AI cloud annual recurring revenue stood at approximately $69 million. Looking ahead, the company aims to achieve 350 megawatts of AI cloud data center capacity by the first quarter of 2028, placing the Malaysian agreement within a comprehensive buildout that spans both cloud computing and dedicated infrastructure contracts.

Originally founded as a Bitcoin mining company, Bitdeer has increasingly directed capital and existing infrastructure toward artificial intelligence and high-performance computing. While it continues to operate a substantial mining division across the United States, Bhutan, Norway, and Ethiopia—and develops its own SEALMINER machines—its AI segment has grown through GPU cloud services, data center conversions, and long-duration infrastructure agreements. Earlier this month, Bitdeer finalized a 16-year lease for 121 megawatts of AI computing capacity at its Tydal campus in Norway. The deal carries approximately $4.7 billion in contracted revenue over its initial term. All 121 MW of IT capacity will be configured to run Nvidia GPUs for a leading AI lab through Volta, an Nvidia Cloud Partner. The project will roll out in two phases, with operations beginning at the end of 2026 and concluding in the first quarter of 2027. An eight-year renewal option could extend the potential contract value to roughly $8 billion over 24 years, with electricity costs reimbursed by the tenant under the lease structure.

Concurrently, Bitdeer continues to invest in its mining hardware supply chain. In July, the company opened a $36 million manufacturing facility in Nevada dedicated to Bitcoin mining equipment, keeping production separate from its AI cloud and data center operations. Bitdeer is among several publicly traded Bitcoin miners leveraging existing power access and data center footprints to pivot toward AI customers. In July, Hut 8 and IREN announced major AI infrastructure deals adding billions in contracted revenue. Hut 8 signed a second 15-year, $9.8 billion agreement at its Beacon Point campus in Texas, covering an additional 352 MW of IT capacity. This brings the tenant’s total contracted footprint at the site to 704 MW, pushing the combined base-term contract value to $19.6 billion. Meanwhile, IREN announced $2.8 billion in new multi-year AI cloud contracts and raised its 2026 annualized AI cloud revenue target to more than $4 billion. The company is simultaneously developing hundreds of megawatts of cloud capacity as it reallocates its power portfolio toward GPU-based computing. MARA Holdings has pursued a different approach, expanding its Texas presence in July 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 seen its computing business surpass its mining operations in quarterly revenue. During the first quarter of 2026, TeraWulf generated $21 million from high-performance computing hosting compared to less than $13 million from digital asset mining.

Following the disclosure of the Malaysian customer agreement, Bitdeer’s shares rose approximately 7% during Wednesday trading and added nearly 6% in Thursday pre-market trading, according to Yahoo Finance data. The stock was trading at about $10.20 as of 12:16 p.m. UTC on Thursday. The announcement followed Bitdeer’s second-quarter earnings release earlier this month. The company reported total revenue of $228.8 million, up from $155.6 million a year earlier, but recorded a net loss of $92.3 million for the quarter. As of June 30, Bitdeer held $496.3 million in cash, cash equivalents, and restricted cash. Its data center portfolio continues to encompass both Bitcoin mining and AI facilities, with additional sites currently being assessed or converted for cloud and colocation workloads as capacity becomes available.