Key Highlights

  • BTDR shares rose 7.38% in pre-market trading to $11.20, extending a multi-day rally.
  • Bitdeer AI secured a five-year long term offtake commitment worth an expected $400 million with a high-credit-quality customer.
  • The contract covers roughly 50% of the 9.5 megawatt A102 Facility in Malaysia, ahead of its energization.
  • The company is targeting up to 350 megawatts of AI cloud Data Center capacity by the first quarter of 2028.
  • Bitdeer's active pipeline for additional AI cloud capacity now exceeds $2 billion, equivalent to about 24.5 megawatts.

New Malaysia Contract Advances AI Cloud Buildout

Bitdeer Technologies Group (NASDAQ:BTDR) shares advanced in pre-market trading on Thursday, extending a rally that began earlier in the week after its Bitdeer AI division announced a new long-term customer contract. The Singapore-headquartered company, which operates data centers across the United States, Norway, Bhutan, Canada and Malaysia, said roughly half of the capacity at its 9.5 megawatt A102 facility in Malaysia has been contracted ahead of the site's energization, under a five-year agreement expected to generate about $400 million in revenue.

The A102 facility is a liquid-cooled, multi-customer site built for NVIDIA GB300 NVL72 deployments, capable of supporting both GPU cloud services and data hosting. Revenue and associated costs from the new contract are expected to begin in the first quarter of 2027, with no financial impact anticipated for 2026.

Pipeline Growth and Capacity Targets

Bitdeer said its active pipeline for AI cloud capacity now exceeds $2 billion, equivalent to roughly 24.5 megawatts, as the company works toward a target of 350 megawatts of AI-ready data center capacity by the first quarter of 2028. Management noted that customer prepayments are typically structured to cover more than half of associated capital expenditure, a financing approach the company has applied consistently across its AI cloud contracts.

The stock carries a market Capitalization of $2.44 billion, with shares having traded in a 52-week range of $6.92 to $27.80. The move also comes as investors continue to weigh broader strength in crypto-linked equities, with Bitcoin-tied names including Strategy and Coinbase rallying in the same session.

What Investors Will Watch

Bitdeer's latest contract underscores its shift from pure Bitcoin mining toward AI infrastructure and cloud services, a transition management has emphasized as central to future growth. Investors will likely track additional contract announcements covering the remaining A102 capacity and progress toward the company's 2028 capacity target.