Bitdeer Technologies Group (NASDAQ: BTDR) subsidiary Bitdeer AI has announced a five-year offtake contract worth approximately $400 million with an unidentified customer, covering roughly 50% of capacity at its A102 data center facility in Malaysia, according to a press release.

The A102 facility is a liquid-cooled, 9.5MW site built for rack-scale Nvidia GB300 NVL72 deployments. It is capable of delivering GPU cloud services and data hosting from a single location. The contract is not expected to generate revenue in 2026, with services and associated costs set to begin in the first quarter of 2027.

Bitdeer AI is targeting 350MW of AI cloud data center capacity by the first quarter of 2028. The A102 facility represents 9.5MW of that total. The company states it structures contracts so that customer prepayments are expected to cover more than 50% of associated capital expenditure.

The company reported an active pipeline for AI cloud capacity exceeding $2 billion, equivalent to approximately 24.5MW, and said it is in active negotiations on additional contracts covering remaining A102 capacity and other sites.

"Roughly half of A102 is contracted ahead of energization, on a long term offtake commitment basis, with a customer of high credit quality," said Michael G. Potter, Chief Financial Officer. "Our active pipeline for AI cloud capacity now exceeds $2 billion."

Bitdeer AI said capacity development is funded through customer prepayments, operating cash flow, and financing secured against contracted cash flows. The company operates data centers across the U.S., Norway, Bhutan, Canada, and Malaysia.