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FollowingBitdeer's AI cloud division has signed a 10-year service agreement in Malaysia, and the largest single station in Southeast Asia has been expanded.
Bitdeer Technologies Group's AI cloud division has signed a 10-year service agreement with the A202 data center in Johor Bahru, Malaysia. The facility has a total capacity of 65.1 megawatts (MW). The transaction marks the company's largest single capacity increase in Southeast Asia.
According to the company, the A202 data center is located on the same campus as Bitdeer AI's existing 21.7-megawatt A201 facility. Once the new site is operational, the two data centers will provide a total of 86.8 MW of AI cloud service capacity (calculated based on critical IT loads). Bitdeer AI is expected to start power supply for A202 in the third quarter of 2027.
The A202 data center is built on land the company already controls, allowing the company to extend existing power, liquid cooling and network infrastructure to new facilities. This strategy is expected to further shorten the cycle from construction to full operation of the data center.
Designed for liquid-cooled rack-level hardware
The A202 data center is designed specifically to support liquid-cooled rack-level NVIDIA hardware, including GB300 NVL72 and Vera Rubin systems. It will support both GPU cloud services and data hosting loads.
Advance payments will cover part of the GPU bill. Bitdeer AI expects the A202 to generate revenue per megawatt equivalent to the A102 facility. Currently, contract revenue for the A102 facility covering the next five years is expected to exceed US$800 million, with a corresponding capacity of 9.5 MW. The company also plans to fund the expansion mainly through customer advances.
Bitdeer said its goal is to cover more than half of each facility's capital expenditures through upfront payments, with the remainder funded through contractual and operating cash flow.
Strong demand, lock-in capacity ahead of schedule
CFO Michael G. Potter attributed the expansion to strong customer demand. He pointed out that market interest in "liquid-cooled, rack-level AI cloud capacity" in 2027 is rapidly surpassing the market's existing supply capabilities. He further explained that the A102 facilities were fully booked before they were powered on, and that the A201 had entered the advanced negotiation stage with potential customers.
Aiming at the 2028 target of 350 MW
With the addition of A202, Bitdeer AI has obtained approximately 206.5 MW of AI cloud service capacity in Malaysia, Norway and the United States. This leaves the company only 41% short of reaching its target of 350 MW AI-ready capacity in the first quarter of 2028, and the progress has reached 59%.
Nasdaq-listed Bitdeer (stock code: BTDR) was originally founded by Wu Jihan, CEO of former Bitcoin mining giant Bitmain, and started in the Bitcoin mining business. Today, the company has separated its cloud business into a separate department, adopted a hybrid model, and has not completely abandoned mining business. In addition, the company is also listed as NVIDIA's preferred cloud partner.
As of press time, BTDR shares closed at US$11.97, up 3.73% in the past 24 hours, and have a market value of approximately US$1.64 billion.
