Bitdeer says “demand is strong” as Bitcoin miner signs 9.5 MW Malaysia AI cloud site for $800M potential revenue
Bitcoin miner turned AI factory Bitdeer (NASDAQ: BTDR) mined 1,190 bitcoin in July as self-mining hash rate reached 76.7 EH/s, while the company said long-term offtake commitments covering its 9.5 MW A102 AI Cloud facility in Malaysia represent more than $800 million of expected contracted revenue.
July bitcoin production increased 20% from 990 BTC in June and 322% from 282 BTC in July 2025. Self-mining hash rate rose from 73 EH/s in June and 22.3 EH/s a year earlier.
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Bitdeer also reported 18.7 EH/s of co-mining hash rate, up from 15.9 EH/s in June. Those operations use Bitdeer mining rigs hosted at third-party data centers, while the company's 76.7 EH/s of self-mining capacity operates at its own facilities. Including another 5 EH/s of proprietary capacity, Bitdeer ended July with 81.7 EH/s of total proprietary hash rate.
The company held 257 BTC at the end of July, compared with 150 BTC in June and 1,667 BTC a year earlier. Its reported holdings exclude customer deposits but include bitcoin pledged as collateral.
"Our mining business continued to scale efficiently, reaching approximately 76.7 EH/s in self-mining hash rate," Chief Financial Officer Michael G. Potter said in the company's July operating update .
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Bitdeer's AI pipeline
On the AI side, Bitdeer said A102's capacity is fully committed under long-term offtake agreements ahead of energization. The Malaysia facility is scheduled for RFS in November 2026 and will use NVIDIA GB300 systems.
The operating update listed 50% of A102's cloud capacity as signed and the other 50% in contract execution, with total long-term contract coverage at 100%. Bitdeer did not identify A102's customers.
The company's existing AI Cloud fleet remained at 4,248 deployed GPUs and 95% utilization in July, including 3,517 GPUs under external subscriptions. ARR held at approximately $76 million, calculated by annualizing daily revenue from contractually obligated GPU orders active at month-end.
Bitdeer reported a broader AI Cloud pipeline of 141.4 IT MW. Its planned 21.7 MW A201 facility in Malaysia is scheduled for RFS in January 2027, using GB300 systems and a smaller allocation of Vera Rubin capacity. Management said contract discussions were underway and forecast that advance payments would begin within a month.
Separately, Bitdeer reiterated the 16-year lease covering 121 IT MW at its Tydal campus in Norway. A Volta subsidiary—not a tenant at A102—is leasing the Tydal capacity for NVIDIA GPU infrastructure serving an unidentified AI lab.
The Norway lease represents approximately $4.7 billion of scheduled revenue over its base term. With 3% annual escalators, it is priced at approximately $202/kW-month on average , while the tenant reimburses electricity costs. An eight-year extension could lift total contract value to approximately $8 billion, although Volta can terminate without a fee after year 10.
Bitdeer expects approximately $1.3 billion of letters of credit from affiliates of two global financial institutions, subject to customary conditions. The company previously estimated another $500 million of Tydal capex, or roughly $4 million per contracted IT MW, and said it intends to raise additional debt for its infrastructure program.
The mining expansion and AI buildout follow a capital-intensive second quarter in which Bitdeer reported $228.8 million of revenue and a $92.3 million net loss. It ended June with $496.3 million of cash, cash equivalents and restricted cash against $1.8 billion of borrowings.
Bitdeer said it will now move infrastructure reporting from monthly updates to quarterly disclosures issued with its financial results, making July its final standalone monthly infrastructure update.
