Bitzero Lands $2.6 Billion 15-Year OneQode Lease for 110MW Norway AI Data Center
Updated
Updated · OilPrice.com · Jun 26
Bitzero Lands $2.6 Billion 15-Year OneQode Lease for 110MW Norway AI Data Center
2 articles · Updated · OilPrice.com · Jun 26
Summary
A binding May 5 letter of intent gives Bitzero about $2.6 billion in contracted revenue over 15 years for 110MW at its Namsskogan, Norway site.
OneQode plans a phased GPU deployment, with initial commissioning targeted in the first half of 2027 and full delivery possible by Q3 2027 because the site already has grid access and substations.
A definitive lease is expected within 60 to 90 days, subject to due diligence, regulatory approvals, data-hall design and investment-grade credit support.
Bitzero said the full buildout would cost about $1.1 billion and be debt-financed, while existing bitcoin mining continues on-site to generate cash flow during construction.
The deal highlights how bitcoin miners with secured power infrastructure are repositioning as AI data-center landlords as hyperscalers face multi-year grid and permitting bottlenecks.