Bitdeer Shares Jump 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, marking the highest level since early January.

The Singapore-based company said it will directly manage the development of its own AI data centers, beginning with its Clarington, Ohio facility. Local utilities have confirmed that all 570 megawatts (MW) of electrical capacity will be available by Q3 2026—nearly a year ahead of schedule. Two additional sites—Tydal in 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 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 aligns with a broader trend of crypto mining firms pivoting toward AI infrastructure. Miners like Bitfarms, IREN, and TeraWulf have attracted investor attention as proxy bets on AI data centers and related hosting opportunities.