Crypto Mining Firm Bitdeer Rises 30% on AI and Data Center Growth Plans

Bitdeer Surges 30% on AI and High-Performance Computing Expansion

Bitcoin miner Bitdeer Technologies (BTDR) jumped as much as 30% on Wednesday after unveiling plans to fast-track its expansion into high-performance computing (HPC) and AI data centers. Shares traded above $26, their highest level since early January.

The Singapore-based firm said it will directly manage the development of its own AI data centers, starting with its Clarington, Ohio facility. The local utility confirmed that all 570 megawatts (MW) of electrical capacity will be available by Q3 2026—almost a year ahead of schedule. Additional conversions are planned at Tydal, Norway, and Wenatchee, Washington, with Tydal expected to support 164 MW of AI computing by late next year.

Bitdeer cited a “sustained imbalance” between AI computing demand and supply and expects to deploy over 200 MW for AI operations by the end of 2026. In a bullish scenario, the company said its AI initiatives could generate more than $2 billion in annualized revenue.

“This push is driven by a marked increase in inbound interest in our power assets, which has become a strong catalyst for expanding our efforts,” said Matt Kong, chief business officer at Bitdeer.

The move reflects a wider trend of crypto mining firms pivoting toward AI infrastructure. Companies like Bitfarms, IREN, and TeraWulf have drawn investor attention as proxy bets on AI data center growth and hosting opportunities.

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