Bitdeer pays $100 million for 200 acres near Rockdale AI/HPC site

Bitdeer pays $100 million for 200 acres near Rockdale AI/HPC site

William Foxley

Wed, September 2, 2026 at 5:21 PM GMT+3 2 min read

• BTDR +10.89%

Bitdeer (NASDAQ: BTDR) completed a roughly $100 million cash purchase of 200 acres near Rockdale, Texas, on Tuesday, securing fee-simple land for a planned AI/HPC expansion.

Bitdeer said its Milam County sites have 563 MW of interconnected capacity and a dedicated water supply. Existing plans would increase capacity to 742 MW; in the county, the operator controls about 255 acres and 742 MW across existing and planned power capacity.

KBW said the purchase removes a primary development constraint at Rockdale, but said it remained unclear whether the relevant power-interconnection and water rights transferred with the parcel. The distinction determines how much of the site can move directly toward data-center development.

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Fee-simple ownership removes lease risk

Michael G. Potter, Bitdeer's chief financial officer, said owning the property gives the operator control over its development schedule while removing lease-renewal risk.

"Securing outright ownership of land in Milam County reflects the disciplined approach we're taking to expanding powered land under our control," Potter said.

The transaction does not establish that all 742 MW is energized or available for AI/HPC workloads. Bitdeer's June operations update classified 563 MW at Rockdale as online electrical capacity and another 179 MW as pipeline capacity with indicative energization in 2026.

Bitdeer also did not disclose an AI/HPC tenant, construction budget, project financing package or contracted critical IT load for the new parcel. Investment bank KBW previously assigned no value to potential Rockdale colocation agreements because their timing remained uncertain, as covered in its post-earnings assessment.

Purchase draws on Bitdeer's cash balance

The $100 million payment equals about 20% of Bitdeer's $496.3 million in cash, cash equivalents and restricted cash at June 30. Bitdeer also carried $1.8 billion of borrowings, while second-quarter operations used $158.5 million of cash and capital expenditures reached $266 million, according to its latest financial results.

Bitdeer operates an AI Cloud business alongside its mining assets. The company reported approximately $76 million of annualized run-rate revenue in June, with 4,248 deployed GPUs and 95% utilization.

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Rockdale's current operating plan spans cryptocurrency mining, colocation and AI Cloud. Potter said the new parcel gives Bitdeer flexibility to continue its existing mining operations while developing separate AI/HPC infrastructure on the acquired land.