Bitzero Holdings Secures ~US$2.6B Lease for Norway Data Center
Bitzero Holdings Inc. marked its first week of trading on Nasdaq, providing an update on its operational progress and commercial momentum in AI and HPC data center infrastructure. The company highlighted a binding letter agreement with OneQode Networks for a 15-year lease of its 110MW Namsskogan, Norway data center site, valued at approximately US$2.6 billion in total revenue. Construction at the Norway site is advancing, with foundations for new transformers underway, while engineering milestones are progressing at its Kokemäki, Finland campus, which is planned for up to 1,000MW capacity. Bitzero aims to address the power availability bottleneck for AI infrastructure with its strategically located Nordic sites.
Key Highlights
- Signed binding letter agreement for a 15-year lease with OneQode Networks for its 110MW Norway data center.
- The lease agreement is valued at approximately US$2.6 billion in total revenue over its lifetime.
- Expected net operating income margin for the Norway site is ~85%, implying ~US$151 million annual NOI at full capacity.
- Construction is underway at the 110 MW Norway data center, with foundations for two 60 MW transformers.
- Finland campus engineering due diligence completed for up to 520MW, with a long-term plan for 600MW-1,000MW.
- Initial phases of both Norway (110MW) and Finland (80MW) sites are targeted for service delivery in 2027.
- Company marked its first week of trading on The Nasdaq Stock Market (AIBZ).
Price Impact
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