Bitdeer says Malaysia A102 is fully committed
Malaysia A102 (9.5 MW, GB300, RFS Nov 2026) is fully committed, expected contracted revenue over $800M. A201 (21.7 MW) still unsigned; company said it expects contracts and advances within a month. AI Cloud still ~$76M ARR on 4,248 GPUs. The Aug 4 Tydal, Norway 121 IT MW / $4.7B, 16-year Volta lease was restated, not newly signed. Year-10 walk-away and ~$1.3B LC backstop still not closed. End customer is only “a leading AI lab” in the filing.
Why it matters
One of the few miner-to-AI conversions outside the U.S., on hydro, with a 2026 year-end COD target.
Companies
- BTDR
- Volta
Risks
- Year-10 termination right.
- LC backstop not closed.
- A201 unsigned.
- Mining still the bulk of near-term cash generation.