Bitdeer’s AI business has locked in more than 70% of the capacity of the 21.7MW data center in Johor, Malaysia. The contract is expected to generate over $1.7 billion in revenue over the next five years, pushing the signed revenue backlog for its AI Cloud to around $2.9 billion, with projects under negotiation totaling more than $10 billion.
A201 is expected to be powered on in Q1 2027, with its main deployment being NVIDIA GB300 NVL72.
The script for mining companies to pivot into AI data centers is already becoming standard practice—having power, land, and operations in hand, what’s missing is the customers.
The most valuable aspect of this deal isn’t the amount, but the metric of “signed revenue backlog”: it indicates that AI compute demand has been prepaid, and customers are willing to lock in capacity for the coming years through long-term contracts.
The risk lies in the time gap: the facility won’t be powered until 2027, yet capital expenditures must be paid now.
Compute capacity lease arrangements may look like steady cash flow, but in essence they are asset-heavy businesses where capital is paid upfront and rent is collected later.
A201 is expected to be powered on in Q1 2027, with its main deployment being NVIDIA GB300 NVL72.
The script for mining companies to pivot into AI data centers is already becoming standard practice—having power, land, and operations in hand, what’s missing is the customers.
The most valuable aspect of this deal isn’t the amount, but the metric of “signed revenue backlog”: it indicates that AI compute demand has been prepaid, and customers are willing to lock in capacity for the coming years through long-term contracts.
The risk lies in the time gap: the facility won’t be powered until 2027, yet capital expenditures must be paid now.
Compute capacity lease arrangements may look like steady cash flow, but in essence they are asset-heavy businesses where capital is paid upfront and rent is collected later.