Active Energy Group (LSE:AEG) has agreed an LOI with Bitdeer Technologies Group (NASDAQ: BTDR) to progress a partnership that is subject to due diligence, agreement of final commercial terms and execution of definitive documentation.
The proposed deal is described as infrastructure-led, with Active Energy supplying power, hosting and operational delivery and Bitdeer deploying equipment, and the parties intend the 8MVA site to act as an operational benchmark ahead of any wider rollout.
The UAE 8MVA site, which is approaching energisation and is undergoing configuration and optimisation works, is expected on an indicative basis to deliver infrastructure and power revenues of about US$300,000 per MVA per annum and digital asset production of c.8.3 BTC per MVA per annum, subject to network conditions and final terms.
"The 8MVA site represents the first step in progressing the Bitdeer relationship from framework into execution," said Paul Elliott, CEO of Active Energy Group plc.
The next material steps are completion of due diligence and agreement of final commercial terms leading to definitive documentation before any scaled execution.
