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Bitdeer Technologies Unit Signs $4.7 Billion Data Center Contract With Volta Unit

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Bitdeer Technologies' (BTDR) Bitdeer AI said Tuesday its Tydal Data Center unit signed a 16-year colocation lease and services contract worth roughly $4.7 billion with Volta's Tydal unit to supply 121 IT megawatts at its campus in Norway.

An eight-year renewal option could raise the total contract value to about $8 billion, with JP Morgan (JPM) affiliates anticipated to arrange a $1.3 billion credit backstop to support Volta's obligations, the company said.

Bitdeer AI said it plans to obtain debt financing to finance its infrastructure growth, including at Tydal.

Shares of Bitdeer Technologies were up 6.7% in Tuesday trading.

Price: $12.13, Change: $+0.76, Percent Change: +6.72%

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