Bitdeer has pre-sold half of a Malaysian AI data center for $400 million

Bitdeer AI has put an Nvidia GB300 NVL72 system into a 9.5MW data center in Malaysia. Half of the building is already spoken for under a five-year contract worth $400 million, Data Center Dynamics reports. Revenue and costs from that deal start showing up in the first quarter of 2027. The other 4.75MW is still on the market. The company hasn't said where the site is.

Bitdeer says the building, A102, is designed for rack-scale liquid-cooled AI workloads. It is an early piece of a planned 350MW of AI cloud capacity, which the company wants operational by the first quarter of 2028. Bitdeer AI is part of Bitdeer Technologies Group, a bitcoin miner with 175,000 machines under management. The unit launched an Nvidia GB200 NVL72 system in Malaysia in January; the company does not say whether that system sits in the same building.

The price per megawatt stands out. The contract covers roughly 4.75MW. Over five years, it is worth $400 million. That works out to about $17 million per megawatt per year. Those dollars reflect the Nvidia GPUs inside the racks more than the concrete shell around them. Bitdeer AI's CFO, Michael G. Potter, said the customer has high credit quality and that the terms show how carefully the company puts capital to work. He pointed to a recently announced lease at the Tydal, Norway site as another example of contracting capacity before energization. The company puts its AI cloud pipeline at more than $2 billion. That corresponds to about 24.5MW, it says.

A102 is tiny beside the hyperscale campuses that make news. Half the building is already sold at a premium. That gives Bitdeer a funding path for its next expansion. The company is converting former mining sites in Washington, Tennessee, and Norway into AI data centers. Ohio accounts for 570MW of its operating capacity. It also owns a 101MW gas-fired power project in Canada. In April, Bitdeer bought 40MW of liquid-cooled bitcoin mining containers from Saiheat. Selling half a site before the power is on, with a five-year commitment from a creditworthy customer, protects a parent whose revenue has historically swung with bitcoin prices. Whether the other half of A102 fills at the same premium will say a lot about demand for small, liquid-cooled AI space in Southeast Asia.