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Bitzero Signs $2.6 B Norway Lease, O’Leary Invests

7/6/2026

22 4 Full Breakdown

Summary

Story summary

Bitzero signed a 15-year lease for its 110-MW campus in Norway.
The lease may yield about $2.6 billion in revenue over the period.
Bitzero controls over 1 GW of capacity in Norway, Finland and North Dakota and mines Bitcoin at $50,000 per coin, earning $1 million monthly EBITDA.
Kevin O’Leary invested in Bitzero, saying power contracts will drive AI competition.

History

Historical Context

In 2015 Bitfury opened a 100-MW hydro-electric Bitcoin mining farm in Iceland, tapping the country’s virtually 100 % renewable grid. The project follows a legacy of state-backed hydro development—Landsvirkjun’s plants supplied aluminium smelters since the 1960s—and a 2009 forecast that crypto mining would soon outpace residential electricity use. This shows renewable power becoming core infrastructure for high-energy digital ventures.

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Story summary

Bitzero signed a 15-year lease for its 110-MW campus in Norway.
The lease may yield about $2.6 billion in revenue over the period.
Bitzero controls over 1 GW of capacity in Norway, Finland and North Dakota and mines Bitcoin at $50,000 per coin, earning $1 million monthly EBITDA.
Kevin O’Leary invested in Bitzero, saying power contracts will drive AI competition.

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