Bitdeer Technologies Group has signed a 16-year colocation lease valued at approximately $4.7 billion to supply computing power to an unnamed leading U.S. artificial intelligence laboratory from its Tydal campus in central Norway.
The agreement with Volta Tydal AS, a subsidiary of Volta Infrastructure Holdings, covers 121 megawatts of IT capacity and could reach roughly $8 billion over 24 years if an eight-year renewal option is exercised. Volta plans to configure the facility for NVIDIA's next-generation Vera Rubin AI platform, with Dell Technologies providing infrastructure and J.P. Morgan arranging credit support.
The Tydal site, powered entirely by renewable hydropower, is expected to become one of Europe's largest AI data centers. Phase one is targeted for operation by the end of 2026, with a second phase completing in early 2027. Bitdeer, which acquired the center from its Norwegian founders in 2024, estimates $500 million in remaining capital expenditure and expects the facility to employ about 100 permanent staff upon completion.