Bitdeer Secures $4.7B AI Lease With Anthropic, Faces Year-End Delivery Pressure

Woofun AI reports that Bitdeer has secured a $4.7 billion AI lease agreement with Anthropic’s Volta, anchoring a long-term infrastructure partnership. This massive contract establishes the core financial framework for Bitdeer’s expansion into artificial intelligence compute services.

The financial mechanics of the deal project average annual revenue of approximately $2.4 million per megawatt delivered, totaling roughly $290 million a year across the full project. Payments are structured to increase by 3% annually over the initial 16-year term.

Notably, Volta retains the option to terminate the agreement without penalty after 10 years, though an eight-year extension could push the total contract value to approximately $8 billion. The $4.7 billion headline figure represents scheduled payments over the full duration rather than immediate recognizable revenue.

Structurally, Bitdeer plans to open the facility in two equal phases, with the first half scheduled to begin operating on Dec. 31, 2026, and the remaining capacity targeted for March 31, 2027. Per Woofun AI, reaching these deadlines requires approximately $500 million in additional spending, equating to about $4 million per megawatt of computing capacity for the Tydal, Norway project. This capital expenditure is critical to meeting the strict operational timeline.

To fund construction, Bitdeer intends to raise new debt through financial institutions, aiming for a loan package that exceeds the specific needs of the Norway project. The company will retain full ownership of the Tydal campus, having issued no shares or warrants as part of the Volta agreement, thus avoiding immediate shareholder dilution.

However, Bitdeer can terminate the agreement if Volta fails to meet milestones connected to the credit support, marking a high-stakes execution phase for the firm.