Bitdeer shifts from bitcoin mining to AI/HPC colocation, targeting growth with new data centers.

Bitdeer Technologies Group is transitioning from bitcoin mining to focus on AI and high-performance computing (HPC) colocation hosting. The company leverages its substantial power capacity of 1.66 GW online and 3 GW in development, with new data centers planned in Norway, Ohio, Texas, and Ethiopia. This strategic pivot aims to drive margin-accretive growth by capitalizing on power scarcity and the rising demand for large-scale data centers. However, risks include potential underutilization if customer demand for colocation services falls short of expectations.