Bitdeer Technologies Group's AI unit signs 67 MW Malaysia services deal
The 10-year A901 agreement lifts secured capacity to 273.5 MW; Bitdeer reported no signed customer offtake there as of Oct. 8.
Julian Okafor
A decade of access to Malaysian data centre capacity gives an AI cloud operator room to expand, but its latest 67 megawatts have no signed end customer. Bitdeer Technologies Group NASDAQBTDR, the Singapore bitcoin miner and AI cloud operator, said its Bitdeer AI business entered a 10-year services agreement for the A901 campus in an Oct. 8 release.
The Oct. 8 announcement preceded Friday's Nasdaq close. Bitdeer shares were US$9.63 at that close, according to NASDAQBTDR on Google Finance as of 4:00:01 p.m. EDT. Bitdeer has not reported A901 revenue or named an A901 customer.
The agreement covers 67 megawatts of critical IT load at A901, Bitdeer said. It expects the first capacity in the first quarter of 2027 and the full amount in the second quarter of 2027. The Malaysian site would become Bitdeer AI's third hub in the country, alongside Cyberjaya and Johor.
Bitdeer calls its capacity "secured" when it owns it or has an executed data centre services agreement. On that definition, the Oct. 8 deal brings its secured AI cloud capacity to about 273.5 megawatts across Malaysia, Norway and the United States. The company says that is about 78 per cent of its goal of delivering up to 350 megawatts by the first quarter of 2028.
A901 Has Supply Capacity But No Signed Customer
The 10-year agreement secures a service arrangement for Bitdeer AI; it does not sell that capacity to an AI customer. Bitdeer states in the Oct. 8 release that no offtake commitment for A901 had been signed as of that date. The release does not identify the data centre services counterparty or give the agreement's price, A901 construction cost or a customer billing date.
Bitdeer says A901 will be engineered for liquid cooling and rack scale systems. Those are design intentions for delivery beginning in 2027, rather than installed equipment or measured performance today. The company's release lists site readiness, power availability, utility approvals and equipment delivery among risks to that schedule.
"A901 adds 67MW in a third Malaysian location, which widens the set of sites and delivery dates we can put in front of a customer," Bitdeer chief financial officer Michael G. Potter said in the Oct. 8 release.
That wording leaves the next commercial step open. Bitdeer estimates its active AI cloud pipeline at more than US$10 billion, but says the figure aggregates potential contract values under discussion. Its own caution specifies that the pipeline is neither backlog nor revenue, an executed contract or a binding commitment; assumptions about capacity, term, pricing and service mix may change.
A102 Has Signed Offtake For 9.5 Megawatts
At Bitdeer's other Malaysian site, A102, the company said on Aug. 31 that its approximately 9.5 megawatts had been sold out under long term offtake commitments. It estimated more than US$800 million of revenue over five years from those agreements, with service and revenue expected to begin in the first quarter of 2027. A901 has a signed supply arrangement but no comparable customer commitment in the Oct. 8 disclosure.
Bitdeer had described its active AI cloud pipeline as above US$2 billion in an Aug. 19 announcement. Its new estimate of more than US$10 billion is a larger pool of conversations under management's assumptions, not a report of booked revenue. Neither release allocates that total to A901 or identifies a customer behind the new estimate.
AZIO AI Holdings, Inc. NASDAQAZIO, a Houston developer of compute hosting infrastructure, signed a 10-megawatt customer agreement on Oct. 9. It estimates US$90 million in capacity reservation charges over the initial 60-month term, but said none of the contracted power had been energized. The earlier Atlas One report sets out its delivery conditions.
Read more: AZIO AI Holdings signs 10 MW Atlas One hosting agreement
Gorilla Technology Group Inc. NASDAQGRRR, a London security analytics and data centre technology provider, said on Oct. 9 it had a nonbinding letter of intent to acquire a U.S. site with about 6 megawatts of current utility capacity. Its proposed expansion to about 36 megawatts depends on utility and site work. As Mugglehead reported, the property purchase itself still requires a definitive agreement.
Read more: Gorilla Technology Group Inc signs US data centre LOI, targets 100+ MW
First A901 Delivery Is Targeted For Early 2027
The three October announcements describe different stages: Bitdeer has contracted access to future AI capacity, Azio has a customer contract awaiting power, and Gorilla is negotiating a property purchase. At A901, the first measurable delivery test is the first quarter of 2027, when Bitdeer targets initial capacity. Its next stated milestone is delivery of all 67 megawatts in the second quarter of 2027; the Oct. 8 release sets no date for a customer offtake agreement.
