Bitdeer shares surged in premarket trading on Tuesday after disclosing financial details and tenant identity for a 16-year, $4.7 billion AI data center agreement at its Tydal campus in Norway.
Shares pulled back from early gains to trade at $12.24 on Tuesday morning, up 8%, according to The Block's BTDR price page.
The stock (BTDR) had fallen roughly 7% on June 29 when Bitdeer first announced the lease without identifying the tenant or disclosing financial terms.
Bitdeer said in a statement that its subsidiary, Tydal Data Center AS, signed a modified gross lease with Volta Tydal AS, a subsidiary of Volta, to provide 121 IT megawatts of AI computing capacity across four data halls.
The agreement includes an eight-year renewal option that would increase the total contract value to approximately $8 billion over 24 years.
