OSLO: Bitdeer Technologies Group (NASDAQ: BTDR) today unveiled plans to convert its Tydal facility into a high-performance computing (HPC)/ artificial intelligence (AI) data center. With an expected completion date of Q4 2026, the investment to enhance Tydal Data Center is part of the company’s wider global HPC/AI strategy across multiple initiatives to significantly expand its direct role in the HPC/AI data center market.
“Our expanded initiatives include negotiating directly with potential tenants, building relationships with Engineering, Procurement, and Construction companies (EPCs) specializing in data centers, developing proprietary AI data centers and hiring in-house experts across multiple AI data center disciplines. This push is driven by a marked increase in inbound interest in our power assets, which has become a strong catalyst for expanding our efforts,” said Matt Kong, Chief Business Officer at Bitdeer.
The 180 MW Tydal facility is expected to support 164 MW of key IT load with state-of-the art power, cooling and network redundancy. The site’s design already incorporates potential conversion from Bitcoin mining to an HPC/AI data center. The capital expenditure required for this conversion will be significantly lower than the average cost of constructing a new AI data center in Norway or the United States.
“This investment will secure Tydal Data Center as a leading AI hub with capacity in line with the largest European AI datacenters. We are excited that the infrastructure we built in Tydal can be used for the vast applications possible with current GPU technologies and look forward to working with our customers, partners and suppliers to realise this plan. We will create even more high-tech jobs in Tydal and give back to the community by enabling a circular economy using heat from the datacenter for food production in close cooperation with Tydal municipality”, said Haakon Bryhni, chairman of Tydal Data Center.
By the end of 2026, Bitdeer expects to operate more than 200 MW of IT load dedicated to AI computing, to support co-location services and AI factory operations. In the most optimistic scenario, Bitdeer plans to acquire GPUs for cloud deployment and convert the entire 200 MW of IT load into an AI factory, potentially generating an annualized revenue run-rate (ARR) exceeding US$2 billion at the end of 2026.
About Tydal Data Center AS
Founded by Norwegian entrepreneurs Lars Naas and Haakon Bryhni, Tydal Data Center is one of Norway’s largest, located in Tydal municipality in Trøndelag. The facility is designed to support complex IT operations and built with industry-leading standards for power management and cooling. Located within the Kirkvollen industrial site, and there are plans to utilize excess heat for food production on the neighboring property. The company is part of Singapore-based Bitdeer Technologies Group, which is listed on the US Nasdaq Stock Exchange (NASDAQ: BTDR). For more information visit: https://ir.bitdeer.com
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Statements in this press release about future expectations, plans, and prospects, as well as any other statements regarding matters that are not historical facts, may constitute “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. The words “anticipate,” “look forward to,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” “would” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including factors discussed in the section entitled “Risk Factors” in Bitdeer’s annual report on Form 20-F, as well as discussions of potential risks, uncertainties, and other important factors in Bitdeer’s subsequent filings with the U.S. Securities and Exchange Commission. Any forward-looking statements contained in this press release speak only as of the date hereof. Bitdeer specifically disclaims any obligation to update any forward-looking statement, whether due to new information, future events, or otherwise. Readers should not rely upon the information on this page as current or accurate after its publication date.