Bitdeer Technologies Group (NASDAQ:BTDR) shares gained 5.1% in premarket trading on Monday after the company announced a colocation lease agreement for its artificial intelligence data centre facility in Tydal, Norway.
The Bitcoin mining and AI infrastructure specialist said the agreement was signed through its wholly owned subsidiary, Tydal Data Center AS. However, the lease has not yet become effective, as it remains subject to several conditions that are outside Bitdeer’s control, including the completion of customer and supplier agreements by the counterparty.
Lease Still Subject to Closing Conditions
Bitdeer cautioned that there is no guarantee the outstanding conditions will be satisfied or that the lease will ultimately take effect.
“Signing this agreement marks an exceptional step in Bitdeer’s execution of its global AI infrastructure strategy,” said Haris Basit, Chief Strategy Officer of Bitdeer.
The company added that it intends to disclose further information—including the commercial terms of the agreement and its anticipated financial impact—once the lease becomes effective. Management expects that milestone could be reached within the next month.
Expanding Global AI Infrastructure
Headquartered in Singapore, Bitdeer operates data centres across the United States, Norway, Bhutan and Ethiopia.
Alongside its Bitcoin mining operations, the company is expanding its artificial intelligence infrastructure business by providing high-performance computing capacity and colocation services designed to support growing AI workloads.