Bitcoin miner Bitdeer inks major deal to lease data center capacity for Anthropic

Bitcoin miner Bitdeer Technologies has signed a 16-year lease for capacity at its data center in Norway with cloud startup Volta Infrastructure. The capacity is intended for Anthropic, Bloomberg sources said. Volta’s investors include Nvidia and the family office of Michael Dell.

A Bitdeer subsidiary has signed a colocation lease and services agreement with Volta at its data center under construction in Norway. The agreement has a 16-year term and an option for an eight-year extension. It is valued at $4.7 billion, rising to $8 billion if the extension is exercised. For context, Bitdeer generated revenue of $620.3 million in 2025, which was up 77%.

Volta is leasing the capacity for an unnamed client, which Bitdeer described as a leading AI lab. Bloomberg reported on Tuesday, citing sources, that the client is Anthropic.

Singapore-headquartered Bitdeer was founded in 2021 following a spinout from China’s Bitmain, the world’s largest manufacturer of crypto mining equipment. It initially built data centers for mining and also mined cryptocurrencies itself.

Bitdeer went public in April 2023 through a merger with a SPAC. That same year, the miner announced the launch of a new division, Bitdeer AI Cloud, a cloud service for AI applications powered by Nvidia chips.

The company currently has eight operating data centers in the U.S., Norway, and Bhutan. Some are being converted from crypto mining to AI applications. Several more sites, including facilities in Canada and Malaysia, are at various stages of construction.

The joint project with Bitdeer in Norway will be the first in Volta’s portfolio. The startup was founded in January by former executives of Canadian investment firm Brookfield Asset Management. Its goal is to give customers access to AI infrastructure and financing for chip purchases. The company has already completed two funding rounds, the latest valuing it at $2.4 billion. The startup names chipmaker Nvidia and the family office of Michael Dell among the round’s investors.

Bitdeer stock surged 23% in early trading on Tuesday. It subsequently gave up all of those gains and closed about flat at $11.38 per share. Bitdeer was up more than 3% in premarket trading on Wednesday as of this writing.

Following the Volta deal, Needham raised its target price for Bitdeer by almost 16% to $22 per share and maintained its “buy” rating, according to Yahoo Finance data.

The stock has 10 “buy” calls from analysts versus two “hold” ratings. The average target price of $22.64 per share implies almost 100% upside from Tuesday’s close.

AI is creating a new infrastructure economy, but access to it remains constrained, as only tech giants can finance the construction of such infrastructure, Volta argues.

The shortage of computing resources is also affecting Anthropic as demand for its AI tools grows, Bloomberg wrote. The company recently signed computing agreements with several companies, including SpaceX, and is in talks to lease computing power from Meta Platforms’ data centers, Bloomberg noted.

OpenAI CEO Sam Altman has previously said he expects the company to spend “trillions” on physical infrastructure for AI, Bloomberg added. As part of this effort, OpenAI plans to build a data center in Georgia.