Bitdeer AI 锁定马来西亚 Cyberjaya 60MW A103 设施(8年数据中心服务协议,面向 Vera Rubin,2028Q1 通电), secured 产能达 333.5MW、约占 350MW 目标 95%,但无客户承购、无收入
这是 Bitdeer 作为设施服务采购方锁定供给侧产能的重复性模板公告(与 8/19 A102、9/14 A202 同型),关键的客户承购(offtake/sell-out)尚未发生、无收入或金额、通电要到 2028Q1,pipeline 100 亿美元被公司自己明确排除在 backlog/收入之外;市场对该类公告已脱敏——盘后仅 +0.2%(3.6 万股,对比盘中 5330 万美元成交),且股价处于 20 日 -20.6%、5 日 -15.3% 的明确下行通道,消息未带来可交易的正向重定价。
展开详情(成交明细 / 研究档案 / 原文全文 / 决策记录链)
研究档案
结论摘要
Bitdeer 锁定 60MW A103 使 secured 产能达 350MW 目标的 95%,方向正面,但这是无客户、无金额、2028 年才通电的供给侧设施协议,属于年内第 4+ 次同型模板公告;盘后几无反应、股价深度下行,无 edge,回避。
消息传播链
- 公司官方新闻稿首发 A103 60MW 8 年 DCSA、secured 333.5MW/95% 目标、2028Q1 通电,同时明示无 offtake、pipeline 非 backlog市场反应:盘后至 16:30 ET 报 9.28 美元,较收盘 9.26 仅 +0.2%,盘后成交约 3.6 万股(盘中成交 5330 万美元),几乎无重定价
关键理由
- 若 60MW 未来像 A102(9.5MW 对应超 8 亿美元预期 AI Cloud 收入)一样完成 sell-out,长期收入潜力可观,但当前阶段仅是锁供给、不是需求验证
- 95% 的目标完成度具叙事价值,可能支撑情绪,但不构成相对 25 亿美元市值的当期业绩增量
主要风险
- A103 无任何 offtake 承诺,商业谈判可能不签约或条款显著弱于 A102/A201,公司已在 forward-looking 段落明示
- 股价 20 日 -20.6%、持续放量下跌,说明市场在折价 AI neocloud 的融资/执行风险,模板式产能公告难以扭转趋势,逆势做多逆风强
反向证据
- 做多前查反向 · 来源 web · 日期 2026-10-12 · 影响 weakens
股价 20 日 -20.6%、5 日 -15.3%、连续阴线,距 52 周高点 -66.7%,市场正持续折价;TTM PE 为负(亏损中),AI neocloud 资本开支/融资风险压制估值,模板公告盘后零反应
检索:Bitdeer BTDR 近期利空 融资 稀释 卖空 下调 指引 原文 ↗ - 做多前查反向 · 来源 kb_search · 影响 none
内部 KB 检索服务本轮连接失败(Connection refused),未取得券商纪要;不影响基于一手稿、先例序列与行情的回避结论
检索:kb_search Bitdeer A102 A201 offtake 研报纪要
先例如何影响了这次决策
对本次决策的影响:先例直接支持 AVOID:当前处于'锁设施、未 sell-out'阶段,与 A102 8/19 后、A202 9/14 后同类,缺乏需求验证与持续 edge;待 A103 公告 offtake/sell-out 再评估
方向:两条同公司同机制先例显示:'secures facility'本身不带来持续正收益(A202 后一度冲高但数周内转为约 -20%),真正催化是后续 sell-out(A102 于 8/31 才公告超 8 亿美元收入)
涨幅量级:高相似 aligned 仅 2 条且首发精确分钟未核实,不足以标定可靠 tp/sl 区间;可见的价格轨迹为高波动(20 日日波动 4.9%)、冲高回落形态
形态:存在模板公告→短期脉冲→回落的见光死特征,且本次盘后零反应比先例更弱
历史先例(按相似度)
- 相似度 8/10 BTDR 2026-09-14 A202 65.1MW 设施锁定、pipeline 超 70 亿美元的同型模板公告 原文 ↗
事件后 +1日 -2.5% · +2日 -8.8% · +3日 -7.8% · +4日 -6.0% · +5日 +8.4%
⚠相位不对齐(pre!=target_post) — 该行涨幅别用来定止盈止损
相似度依据:同公司、同类型'secures facility'供给侧 DCSA 公告(A202 65.1MW Johor,当时 pipeline 超 70 亿),唯一差异是 A202 单体更大
经验:锁设施公告后未形成持续上涨:9/15 -6.4%,9/18 曾 +15.4% 但随后数周回吐并转跌至 -20%,供给侧消息不构成持续催化 - 相似度 8/10 BTDR 2026-08-19 A102 9.5MW 设施推进、首次提出 350MW 目标的公告 原文 ↗
事件后 +1日 +7.0% · +2日 +15.9% · +3日 +26.3% · +4日 +21.2% · +5日 +25.4%
⚠相位不对齐(pre!=target_post) — 该行涨幅别用来定止盈止损
相似度依据:同园区同机制:A102 设施锁定公告,12 天后(8/31)才公告 sell-out 与超 8 亿美元收入,证明'secures facility'阶段不含需求验证
经验:真正驱动价值重估的是后续 sell-out/offtake 公告而非锁设施本身;当前 A103 正处于 A102 8/19 的早期阶段
工具执行结果 · 成功 3 · 降级 0 · 失败 1 · 取消 0
- search_processed_events 成功 stock_tools HTTP · 11 ms
{"result": "search_processed_events:agent query=`bitdeer a103 60mw cyberjaya malaysia data center services agreement | bitdeer ai 333.5mw secured capacity vera rubin a103 | btdr a101 a102 a103 cyberjaya 8-year agreement`;结构化索引覆盖完整 72 小时;旧记录兼容扫描近 0.0/72 小时、0 条本臂决策(完整),返回 0 条候选。未命中只表示这些 agent query 表达 - stock_quote 成功 stock_tools HTTP · 361 ms
{ - kb_search 失败 stock_tools HTTP · 58 ms
kb_search 服务暂不可用;这不是一条知识库命中。 - web_search 成功 doubao_search · 1,503 ms
豆包搜索结果(原始查询:Bitdeer A102 A201 data center services agreement Cyberjaya signed developer offtake;API SearchType:web)
原文全文
展开原文 · 8,702 字
New 8-year data center services agreement for the A103 facility at the Cyberjaya campus brings secured AI Cloud data center facility to approximately 333.5MW, designed for next-generation NVIDIA Vera Rubin deployment
SINGAPORE, Oct. 12, 2026 (GLOBE NEWSWIRE) -- Bitdeer AI, part of Bitdeer Technologies Group (NASDAQ: BTDR) (“Bitdeer AI”), an AI neocloud service provider and preferred NVIDIA Cloud Partner, today announced that it has entered into an 8-year data center services agreement for A103, a 60MW AI Cloud data center facility on the same Cyberjaya, Malaysia campus as its A101 and A102 facilities.
A103 is designed for liquid-cooled, rack-scale NVIDIA systems, including the next-generation NVIDIA Vera Rubin platform, with energization expected in the first quarter of 2028. A103 is located on the existing Cyberjaya campus allowing Bitdeer AI to leverage established power, liquid cooling and networking to shorten the path to energization. Together with the A101 and A102 facilities, the Cyberjaya campus will represent approximately 71.5MW of AI Cloud data center capacity.
With the addition of the A103 facility, Bitdeer AI’s secured AI Cloud data center capacity — capacity owned or under an executed data center services agreement — totals approximately 333.5MW across facilities in Malaysia, Norway and the United States, representing approximately 95% of its target of up to 350MW to be delivered by the first quarter of 2028. All megawatt figures in this release refer to critical IT load.
Demand for uncontracted capacity across Bitdeer AI’s AI Cloud sites remains strong. Bitdeer AI’s active pipeline for AI Cloud capacity is estimated to exceed $10 billion.
“We have secured approximately 95% of our up-to-350MW target with the addition of the A103 facility,” said Michael G. Potter, Chief Financial Officer of Bitdeer Technologies Group. “Adding 60MW alongside the A101 and A102 facilities means we benefit from the power, the cooling and the network infrastructure already in place, improving our time-to-market. A103 is also built for the Vera Rubin generation, which is the capacity customers are asking us about for 2028.”
About Bitdeer AI
Bitdeer AI, part of Bitdeer Technologies Group (NASDAQ: BTDR), an AI neocloud service provider, delivers GPU cloud and full-stack AI solutions designed to simplify and scale intelligent computing and build AI computational infrastructure to support the AI revolution. Headquartered in Singapore, Bitdeer AI is a preferred NVIDIA Cloud Partner offering GPU Cloud, Model Studio, and AI Agent Builder services, supported by the Bitdeer Technologies Group’s global data center network across the U.S., Norway, Bhutan, Canada, and Malaysia, with a target of up to 350MW of AI-ready data center capacity to be delivered by the first quarter of 2028. The company enables organizations across industries to advance impactful AI initiatives and drive meaningful goals globally. For more information, please visit https://www.bitdeer.ai.
To learn more, visit https://ir.bitdeer.com/ or follow Bitdeer AI on X @
Bitdeer_AI
and LinkedIn @
Bitdeer AI
.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact contained in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by terminology such as “may,” “will,” “should,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “targets,” “continue,” “become,” “develop,” “designed,” “built for,” or the negative of these terms or other comparable terminology.
Forward-looking statements in this press release include, without limitation, statements regarding the 60MW A103 facility secured on Bitdeer AI’s existing Cyberjaya, Malaysia campus under an 8-year data center services agreement and the expected timing of its development and energization in the first quarter of 2028; the expectation that leveraging established power, liquid cooling and network infrastructure from the existing Cyberjaya campus will shorten the path to energization and improve time-to-market; the expectation that the Cyberjaya campus will represent approximately 71.5MW of AI Cloud data center capacity; the intended suitability of A103 for liquid-cooled, rack-scale NVIDIA systems, including the next-generation NVIDIA Vera Rubin platform; the estimated active pipeline for AI Cloud capacity of more than $10 billion; the strength of customer demand for uncontracted AI Cloud capacity, including customer interest in A103 capacity for 2028; the approximately 333.5MW of secured AI Cloud data center capacity and its representation of approximately 95% of the up-to-350MW target; and the up-to-350MW AI-ready data center capacity target for delivery by the first quarter of 2028, including the expectation that Bitdeer AI will secure the remaining capacity required to reach that target.
No offtake commitments have been entered into with respect to A103 capacity as of the date of this press release. There can be no assurance that commercial discussions relating to A103 will result in executed contracts, that any such contracts will be executed on the expected timeline or ahead of energization, or that they will be on terms comparable to those previously announced by Bitdeer Technologies Group (the “Company”). Prior contract terms, including those announced in respect of the A102 and A201 facilities, may not be indicative of future results. There can also be no assurance that Bitdeer AI will secure the remaining capacity required to reach its up-to-350MW target, or that capacity secured under its data center services agreements will be developed, delivered or energized on the expected timeline. The active pipeline figure referred to above represents management’s estimate of the aggregate potential contract value of opportunities under commercial discussion. It is not backlog, revenue, an executed contract or a binding commitment, is calculated using assumptions as to capacity, term, pricing and service mix that may not be realized, and there can be no assurance that any portion of it will result in executed contracts.
These forward-looking statements are based on management's current expectations, assumptions, estimates and projections about the Company and the industry in which it operates, and involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by any forward-looking statement. These risks and uncertainties include, but are not limited to: the ability to convert commercial discussions and negotiations into executed contracts on the expected timeline, the ability to secure the remaining capacity required to meet the up-to-350MW AI-ready data center capacity target, the satisfaction of handover and other conditions under the Company’s data center agreements, the performance of third-party data center developers and service providers, the receipt of required regulatory, utility and other approvals, customer demand and performance, contract terms, equipment delivery schedules, the timing, availability and specifications of next-generation NVIDIA platforms, including the Vera Rubin platform, site readiness and power availability, electricity tariffs, connected load and other utility charges, data center construction and energization schedules, financing arrangements and cost of capital, as well as the other risks and uncertainties described under “Item 3. Key Information, D. Risk Factors” in the Company’s most recent Annual Report on Form 20-F and in the Company’s subsequent filings filed with, or reports furnished to, the U.S. Securities and Exchange Commission on Form 6-K, which are available at
www.sec.gov and on the Company's investor relations website.
These forward-looking statements speak only as of the date of this press release. The Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. Investors are cautioned not to place undue reliance on forward-looking statements.
Investor & Media Contacts
Investor Relations
Tesh Dahya, Head of Investor Relations –
tesh.dahya@bitdeer.com
Media
Eunice Hwangbo, Director, Corporate Communications –
eunice.hwangbo@bitdeer.com
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