Bitdeer Surges 30% as Crypto Miner Expands Into AI Data Centers
Bitcoin miner Bitdeer Technologies (BTDR) jumped 30% on Wednesday after announcing plans to accelerate its expansion into high-performance computing (HPC) and artificial intelligence (AI) infrastructure. Shares traded above $26, their highest since January.
The Singapore-based company will directly manage development of its AI data centers, starting with Clarington, Ohio, where 570 megawatts (MW) of electrical capacity will be available by Q3 2026—nearly a year ahead of schedule. Conversions are also planned at Tydal, Norway, and Wenatchee, Washington, with Tydal expected to support 164 MW of AI computing by late next year.
Bitdeer sees a “sustained imbalance” between AI computing demand and supply and expects to deploy over 200 MW for AI operations by the end of 2026, potentially generating more than $2 billion in annualized revenue.
“This expansion is driven by rising interest in our power assets,” said Matt Kong, chief business officer.
The move reflects a broader trend of crypto miners pivoting to AI infrastructure, with firms like Bitfarms, IREN, and TeraWulf attracting investor attention as proxy bets on AI data center growth.
