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Anthropic reportedly signed a six-year, $10 billion compute agreement with Volta Infra Holdings for 121 megawatts of NVIDIA Vera Rubin capacity in Norway. Volta will source the power from Bitdeer’s hydro-powered Tydal campus. The first capacity should arrive by December 31, 2026, while the second phase should follow by March 31, 2027.
Volta disclosed an agreement with an unnamed leading artificial intelligence laboratory. Bloomberg later identified Anthropic through people familiar with the matter. The deal gives Anthropic access to a major block of next-generation NVIDIA computing capacity. It also marks a large early contract for Volta, which began operations in January 2026.
Co-founders Boada and Sofia Gumuzio previously worked at Brookfield Asset Management. Volta describes itself as an integrated compute platform combining infrastructure capital, secured power, and industrial-scale development.
Volta operates within NVIDIA’s Cloud Partner program. Providers in that network use NVIDIA GPUs while arranging physical data center sites through landlords and infrastructure owners.
Bitdeer owns the Tydal campus and announced the lease terms on Tuesday. Its Tydal subsidiary signed a 16-year lease with a Volta unit. The agreement covers 121 critical IT megawatts and draws on about 133 gross megawatts. Scheduled payments total approximately $4.7 billion during the base term.
An optional eight-year extension could lift the contract’s total value to about $8 billion over 24 years. The lease starts near $202 per kilowatt-month and includes 3% annual increases. Bitdeer expects net operating income margins near 90% from the contracted revenue. Its shares rose as much as 23% before trading about 10% above the previous close.
Volta’s obligations carry about $1.3 billion in standby letters of credit. Affiliates of JP Morgan and another unnamed global institution support those commitments.
The structure resembles the $43.8 billion in lease guarantees that Alphabet provides across its TPU ecosystem. Both arrangements connect long-term infrastructure commitments with large-scale computing demand.
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Dell Technologies will provide NVIDIA’s Vera Rubin platform. Each Vera Rubin NVL72 rack combines 72 Rubin GPUs and 36 Vera CPUs inside a liquid-cooled chassis. The system requires liquid cooling because chip-level heat density exceeds the limits of standard air cooling. That requirement shapes the design of the four planned data halls.
Norway produces more than 90% of its electricity from hydroelectric sources. Its cold climate also helps Nordic facilities reach power usage effectiveness ratios near 1.1. The average United States facility operates near 1.58. At 121 megawatts of IT load, the efficiency advantage can free about 48 megawatts otherwise used for cooling and overhead.
Bitdeer has operated in Norway since 2018 and bought the Tydal site in 2024. It plans to deliver the campus in two phases across four halls. The disclosures do not state whether Anthropic will own the campus or the chips. They also do not divide the capacity between model training and inference. How much control will Anthropic retain over the campus, hardware, and workload split?
Anthropic previously signed a 300-megawatt agreement for SpaceX’s Colossus 1 facility in Memphis. It also arranged computing deals with Amazon, Google, and Fluidstack. In November 2025, NVIDIA and Microsoft agreed to invest a combined $15 billion in Anthropic. The company paired that funding with a $30 billion Azure compute purchase at a valuation near $350 billion.
Anthropic’s reported agreement secures 121 megawatts of Vera Rubin capacity for six years, while Volta gains a major launch customer and Bitdeer locks in long-term lease income. Delivery now depends on two construction phases scheduled between December 2026 and March 2027 at the Tydal campus.
