Bitdeer Technologies Group signs eight-year deal for 60 MW AI facility
A103 lifts secured AI cloud capacity to 333.5 MW, but has no customer offtake and is expected to be energized in early 2028.
Julian Okafor
Sixty megawatts of future AI computing capacity in Malaysia have been contracted before any customer has committed to buy them. Bitdeer Technologies Group NASDAQBTDR, the Singapore bitcoin miner and AI cloud operator, said in an Oct. 12 release that its Bitdeer AI unit entered an eight-year data centre services agreement for A103.
The agreement takes Bitdeer AI's secured capacity to approximately 333.5 megawatts across Malaysia, Norway and the United States. Bitdeer says that represents approximately 95 per cent of its target of up to 350 megawatts by the first quarter of 2028.
The Oct. 12 release says A103 has no customer offtake commitments and is expected to be energized in the first quarter of 2028. The agreement therefore adds access to future capacity, while customer contracts and a date for service revenue remain undisclosed.
Bitdeer shares closed at US$9.26, down 3.84 per cent, on Nasdaq at 4 p.m. EDT on Oct. 12, according to Google Finance's NASDAQBTDR page.
A103 Expands The Existing Cyberjaya Campus
A103 is on the same Cyberjaya campus as A101 and A102, rather than at a new Malaysian location. Bitdeer expects the combined campus to represent approximately 71.5 megawatts of AI cloud capacity, according to its Oct. 12 announcement.
Bitdeer's definition of secured capacity covers facilities it owns or capacity under an executed data centre services agreement. All megawatt figures in the Oct. 12 release refer to critical IT load; the company does not present the 333.5-megawatt total as energized capacity or capacity sold to customers.
"Adding 60MW alongside the A101 and A102 facilities means we benefit from the power, the cooling and the network infrastructure already in place, improving our time-to-market," Bitdeer chief financial officer Michael G. Potter said in the Oct. 12 release.
The new agreement follows the 67-megawatt A901 services deal covered on Oct. 10. Bitdeer's Oct. 8 announcement gave that agreement a 10-year term and put secured capacity at approximately 273.5 megawatts.
A901 is a separate Malaysian hub, alongside Cyberjaya and Johor. Its first capacity delivery is targeted for the first quarter of 2027, with the full 67 megawatts targeted for the second quarter. A103's expected energization comes in the first quarter of 2028, so the agreements carry different delivery schedules.
Read more: Bitdeer Technologies Group's AI unit signs 67 MW Malaysia services deal
A102 Customer Contracts Precede Expected Revenue
The existing Cyberjaya expansion shows how customer commitments differ from a facility services agreement. In an A102 release with a Sept. 1 dateline, Bitdeer said it had sold out approximately 9.5 megawatts under customer offtake commitments. It estimated more than US$800 million in revenue over five years.
That A102 announcement expected no revenue impact in 2026. Services, revenue and associated costs were expected to begin in the first quarter of 2027. The signed customer commitments therefore preceded the planned revenue commencement.
In the same September announcement, Bitdeer said it generally seeks to structure customer prepayments to cover more than 50 per cent of associated capital expenditure. It described prepayments, operating cash flow and financing secured against contracted cash flows as sources for developing its capacity.
The Oct. 12 A103 announcement does not disclose the services counterparty, agreement price, construction cost or customer prepayments. It also cautions that previous contract terms at A102 and A201 may not indicate future results, leaving no basis to apply A102's revenue estimate to the new facility.
Bitdeer's Oct. 12 estimate of more than US$10 billion in active AI cloud opportunities measures potential contract value under discussion. Its assumptions include capacity, duration, pricing and service mix. The release explicitly says the figure is neither backlog nor revenue, an executed contract or a binding commitment.
Rubin Compatibility Remains A Design Claim
NVIDIA Corporation NASDAQNVDA, the AI processor and computing systems supplier, introduced its six-chip Rubin platform on Jan. 5. NVIDIA said the platform could deliver inference costs per token up to 10 times lower than its Blackwell predecessor.
NVIDIA shares closed at US$226.32, down 1.29 per cent, on Nasdaq at 4 p.m. EDT on Oct. 12, according to Google Finance's NASDAQNVDA page. Bitdeer's A103 announcement says the facility is designed for liquid-cooled, rack-scale systems including Vera Rubin, but discloses no GPU purchase quantity or site performance benchmark.
Andy Lawrence, executive director of research at data centre standards organisation Uptime Institute, warned in its Jan. 13 industry outlook that uncertainty about AI demand complicates capacity planning and resiliency strategies. The institute's outlook also identified lengthy power deployment schedules as a constraint on developers.
Bitdeer's Oct. 12 risk statement names utility approvals, power availability, equipment schedules and next-generation platform specifications among the conditions affecting delivery. Its forecast that existing campus infrastructure will shorten A103's development remains a company expectation.
A102 revenue and associated costs are expected to begin in the first quarter of 2027, when services commence. A901 capacity delivery is targeted to commence in the first quarter of 2027. A103 energization is expected in the first quarter of 2028.
