Bitdeer secures 206.5 MW of AI cloud capacity as providers race to add regions

Bitdeer puts a number on its AI cloud pivot

Pretesh Dahya, Bitdeer's head of investor relations, gave the figures to TNGlobal in an interview published on 4 November.

For enterprise buyers, timing matters more than the number. AWS capacity is largely sold out through 2027. Every megawatt a neocloud or converted miner brings online is capacity a buyer cannot rent elsewhere. It is still unknown how much of that space will be delivered on schedule, and at what price.

The hard part is not the GPUs. Bitdeer's disclosure shows how much of the work is grid infrastructure. It has contracted 121 IT MW at its Tydal campus in Norway under a 16-year AI/HPC co-location agreement. It owns or operates about 255 acres and 742 MW of existing and pipeline power capacity in Milam County, Texas. Dahya said the reusable assets are also the slowest to secure: land, large-load interconnections, transmission and substations. "Conversion is therefore not simply a matter of replacing mining rigs with GPUs," he said.

The company says it is not managing toward a fixed split between mining and AI. Capacity goes where contracted demand and returns are, it says.

The capacity crunch is already visible

Spending figures explain why providers keep building. Worldwide cloud infrastructure revenue reached $168 billion in the third quarter of 2026, up 55% from a year earlier, according to Synergy Research Group. The market doubled in eight quarters. AI-specific services now account for roughly one-third of total revenue. Synergy's John Dinsdale told Data Center Knowledge that much of the new capacity "is specifically targeting more valuable, higher-priced AI services". That mix shift helps explain how revenue can outrun the physical capacity behind it.

CBRE counted 7,481 MW under construction across eight primary North American markets in the first half of 2026, up 24.8% from a year earlier. More than 80% of that space was preleased, against 74.3% a year earlier. Power constraints kept pushing completion schedules out. Customers compete for capacity that has not been delivered.

The top three are not the fastest movers. Amazon held 26% of worldwide cloud infrastructure revenue, Microsoft 19% and Google 16%, Synergy reported. Oracle and neoclouds including CoreWeave, Crusoe and Nebius were among the fastest growers outside the top three. Synergy said neocloud expansion is eroding the share of some established providers.

Regions and dollars follow demand

Alibaba Cloud opened its first public cloud region in the Netherlands on 29 October, with two data centres in Amsterdam. Amsterdam is its fourth European region after Frankfurt, London and Paris. The region sits inside a previously announced $53 billion investment in AI and cloud infrastructure.

The company now runs 109 availability zones across 32 regions. It plans a first cloud region in Finland and further expansion in Germany and France over the next 12 months. Feifei Li, chief technology officer and president of international business at Alibaba Cloud, said the region gives customers "in-region infrastructure, performance and data residency". Data residency rules are the practical reason European buyers care about where a region sits, not just how many exist.

Hyperscalers accounted for 59% of North American data centre tenant demand, with 28 GW of owner-occupied capacity under construction, according to JLL's August midyear report.

Policy and credit risk shadow the buildout

Nvidia has told some cloud customers to take on less business from Chinese companies, The Information reported, citing three people familiar with the matter. The guidance is not mandatory. It applies to future contracts rather than existing deals. Nvidia also asks customers to disclose who is using the chips. The Financial Times reported Nvidia communicated the instruction verbally through sales reps and regional teams. The gap is remote access: US export rules restrict shipments, but generally not renting compute abroad.

Regulators had already been looking at the practice. US authorities looked into Chinese AI companies reaching such chips through foreign data centres after allegations involving Moonshot AI, the developer of the Kimi chatbot.

Nvidia's three largest customers generate 44% of revenue, according to an AFP summary cited by TradingView. Its five-year credit-default-swap spread rose to 127-129 basis points, up from 39 at the end of 2025 and 84 on 1 September, according to Benzinga.

Nvidia carries more of that risk itself. It has guaranteed land, power and building-shell obligations tied to data-centre leases for select AI cloud partners if those partners default. It also agreed to buy computing capacity it cannot sell to others through April 2032.

What to watch next

Nvidia reports quarterly results on 17 November. The report is expected to update demand from major cloud customers. Bitdeer's 350 MW AI Cloud target runs to the first quarter of 2028.