Bitdeer Technologies Group (NASDAQ:BTDR) and Active Energy Group PLC (AIM:AEG) entered into a non‑binding Letter of Intent on April 24 2026 to jointly develop a digital‑asset mining platform in the Middle East. The partnership will combine Active Energy’s renewable power supply and data‑center infrastructure with Bitdeer’s mining equipment and technical support, and will operate on a profit‑sharing model for a planned 100 MW mining rollout in the region. Each party will retain ownership of its assets while sharing revenue from mining output and infrastructure services, and the LOI does not yet commit either side to a definitive agreement.
Active Energy’s financial position underscores the urgency of the deal. For the year ended December 31 2024, the company reported an operating loss of £1,854,088 and held only £4,273 in cash at bank. Its shares were suspended from trading on the AIM on July 1 2024 and relisted on December 18 2024 after the release of its 2023 financial statements. The partnership offers Active Energy access to Bitdeer’s large‑scale mining equipment and operational expertise without requiring significant upfront capital, aligning with its “capital‑light” strategy and providing a potential turnaround lever amid ongoing financial challenges.
Bitdeer is pursuing a broader strategic pivot toward high‑performance computing and AI infrastructure. The company has invested heavily in converting existing mining facilities into AI data centers and has a 3.0 GW power portfolio that it views as a rare and increasingly valuable asset. The Middle East venture could serve as a testbed for renewable‑powered mining and future AI infrastructure, complementing Bitdeer’s global expansion beyond its North American and European operations.
"This is a defining step forward for Active Energy. Partnering with a Nasdaq‑listed global leader such as Bitdeer materially accelerates our strategy and validates the strength of our infrastructure platform. Crucially, this partnership provides us with access to large‑scale mining equipment and operational capability without the need for significant upfront capital investment. This allows us to scale quickly, efficiently and in line with our infrastructure‑first model," said Paul Elliott, CEO of Active Energy Group.
"We expect the global AI infrastructure supply / demand imbalance to widen, and our 3.0 GW power portfolio represents a rare and increasingly valuable strategic asset. As hyperscalers and enterprise customers face extended lead times for power and data center capacity, Bitdeer’s operational infrastructure and speed to market provide a compelling competitive advantage," said Matt Kong, Chief Business Officer at Bitdeer.
The LOI does not specify the exact country or region within the Middle East where the 100 MW rollout will take place, and no definitive timeline for a binding agreement has been disclosed. Additionally, while the article refers to Bitdeer Middle East Technology Ltd. as a wholly owned subsidiary, public records do not provide detailed information on this entity, suggesting it may be a newly formed or less publicly documented arm of Bitdeer.
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