Bitzero Holdings Signs 15-Year Lease for 110 MW Norway Data Center to OneQode Networks

Bitzero Holdings signed a binding letter of intent on May 5, 2026 with OneQode Networks for the full 110 MW capacity of its Namsskogan, Norway data-center site under a 15-year lease tied to GPU-based AI workloads. The agreement carries an implied value of roughly $2.6 billion over the lease term and marks the company’s formal entry into the large-scale AI data-center infrastructure market.

Bitzero Holdings operates Bitcoin mining facilities in Norway, Finland, and the United States and continues those operations to generate cash flow at low power costs.

The company controls additional Norwegian expansion capacity that management says could scale beyond 300 MW and has secured a one-gigawatt development campus in Kokemäki, Finland. It also owns a 225,000-square-foot complex on roughly 184 acres in North Dakota.

” Power prices across parts of the Nordic region are below many major European markets, and Norway and Finland have hydroelectric and nuclear baseload power.

McKinsey estimates global AI infrastructure spending could reach nearly $7 trillion by 2030, with roughly $5.2 trillion tied directly to AI workloads.