Bitdeer Jumps 30% as Crypto Miner Expands Into AI and HPC Data Centers
Bitcoin mining firm Bitdeer Technologies (BTDR) surged as much as 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 level since early January.
The Singapore-based company said it will directly manage development of its own AI data centers, beginning with its Clarington, Ohio facility. Local utilities confirmed that all 570 megawatts (MW) of electrical capacity will be available by Q3 2026—nearly a year ahead of schedule. Additional sites in Tydal, Norway, and Wenatchee, Washington, are also being converted, with Tydal expected to support 164 MW of AI computing by late next year.
Bitdeer highlighted 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 an optimistic scenario, the company said AI initiatives could generate more than $2 billion in annualized revenue.
“This push is driven by growing interest in our power assets, which has become a strong catalyst for expanding our efforts,” said Matt Kong, chief business officer at Bitdeer.
The expansion mirrors a broader trend of crypto miners pivoting to AI infrastructure, with companies like Bitfarms, IREN, and TeraWulf attracting investor attention as proxy bets on AI data center growth.
