Bitzero repays $25M debt, advances Nordic data center sites

Bitzero Holdings Inc. (NASDAQ: AIBZ) has fully repaid its $25 million debt facility, releasing all liens and security interests previously held against the company's assets, according to a press release.

The company says it continues to fund operations and power-related capital expenditures through bitcoin mining cash flow. Bitzero stated it does not anticipate significant capital requirements before lease execution, as tenant deployment costs are expected to be financed at the project level.

At its Norway site, Bitzero expects 110MW of power readiness by year-end. Foundations for two 60MVA transformers have been completed, with the transformers and high-voltage cable both scheduled to arrive in the fourth quarter.

At its Finland site, the company has secured a neighboring petrochemical site to provide backup power for a planned data center campus. The first plot, expected to support 80MW of gross load, is already industrially zoned alongside two additional zoned plots.

Bitzero said ready-for-service capacity is expected to be available beginning in Q4 2027 through Q1 2028 across both Nordic sites, totaling 110MW in Norway and 80MW in Finland. The company said lease discussions are ongoing across its portfolio.

"Repaying the debt facility marks an important step in strengthening the Company financially, but the larger story is the continued execution and positioning of our platform," said Founder and CEO Mohammed Bakhashwain.

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