Bitdeer signs 10-year deal for 65.1MW AI data center in Malaysia

Bitdeer Technologies Group’s AI cloud division has signed a 10-year service agreement for A202, a 65.1-megawatt data center in Johor Bahru, Malaysia. The deal marks the company’s largest single capacity addition in Southeast Asia.

A202 is located on the same Johor Bahru campus as Bitdeer AI’s existing 21.7MW A201 facility, according to the company. Once the new site becomes operational, the two data centers will provide a combined 86.8MW of AI cloud capacity, based on critical IT load. Bitdeer AI expects to start powering A202 in the third quarter of 2027.

Bitdeer AI is building A202 on land it already controls, allowing the company to extend existing power, liquid-cooling, and network infrastructure to the new facility. This approach is expected to further reduce the time needed to get the data center fully working.

The A202 data center is designed for liquid-cooled, rack-scale NVIDIA hardware, including the GB300 NVL72 and Vera Rubin systems. It will also support both GPU cloud services and data-hosting workloads.

Prepayments will cover GPU bill

Bitdeer AI expects A202 to generate similar revenue per megawatt to its A102 facility, where contracts covering the next five years are worth more than $800 million in expected revenue across 9.5MW. The company also plans to fund the expansion largely through customer prepayments.

Bitdeer said it aims to have upfront payments cover more than half of the capital spending for each facility, with the remainder financed through contracted cash flows and operating cash flow.

CFO Michael G. Potter linked the expansion to strong customer demand. He added that interest in “liquid-cooled, rack-scale AI Cloud capacity” for 2027 was rapidly moving past the market’s available supply, further explaining that A102 was fully booked before it was energized, and A201 is already in advanced negotiations with prospective customers.

Bitdeer chases 350 megawatts by 2028

With A202 added, Bitdeer AI’s secured AI cloud capacity has reached about 206.5MW across Malaysia, Norway, and the United States. That puts the company close to 59% of the way toward its target of up to 350MW in AI-ready capacity by the first quarter of 2028.

Bitdeer, listed on Nasdaq as BTDR, initially started off as a Bitcoin mining operation founded by former Bitmain CEO Jihan Wu. The company has now inculcated the cloud business in a separate division, running a hybrid model which does not fully abandon mining. It has also been named a preferred NVIDIA Cloud Partner.

BTDR traded at $11.97 as of the time of writing, up 3.73% over the last 24 hours, with a market cap of about $1.64 billion.