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About Bitzero
Bitzero is a sustainable blockchain and high-performance computing (HPC) data center infrastructure developer. Its core business is building and operating large-scale data centers, used both for self-mining Bitcoin and for hosting AI and HPC clients. The company operates four data center sites across North America and Scandinavia, primarily powered by abundant hydropower from Norway and Finland.
The central narrative is addressing the 'power and infrastructure bottleneck' in AI and HPC deployment. The industry's key pain point is no longer just GPU shortage, but also the lack of power, network, cooling, land, and operational capability. Bitzero's sites offer ready-made high-density facilities in a low-cost, sustainable Nordic power market, helping customers quickly bring AI training and inference workloads online.
Over the past six months, Bitzero has made significant progress: In April 2026, it completed engineering due diligence for up to 520MW at its Kokemäki, Finland campus, with an initial 80MW phase and potential growth to 1GW, positioning it as one of Europe's largest standalone facilities. In May, it signed a 15-year lease with OneQode for 110MW at its Norway site to support AI HPC deployment, with initial commissioning targeted for the first half of 2027. In August, it announced a collaboration with Vertiv to integrate advanced liquid cooling and critical power systems for next-generation GPU clusters.
Bitzero, founded in 2021 and headquartered in Vancouver, Canada, focuses on sustainable data centers for crypto and HPC. Key milestones: raised $25M in financing to expand green mining operations; acquired a 184-acre former military site in North Dakota (2022) with wind/gas/grid power; operates a 100% hydro-powered facility in Røyrvik, Norway; added a new site in Kokemäki, Finland (hydro/nuclear/solar/wind) with 10MW live and plans for 1GW total capacity. The company owns most infrastructure, targeting over 1GW across four sites, positioning itself as a leader in clean computing.
Long-term significance: Bitzero's asset-owning model and renewable energy focus align with ESG trends, enabling scalable, low-carbon infrastructure for Bitcoin mining and AI/HPC workloads, with phased expansions through 2027.
Bitzero, a crypto data center developer, disclosed several key developments in the past six months (2026-03-07 to 2026-09-07):
Finance & Debt: Fully repaid a $25 million debt facility, releasing related liens, significantly strengthening its balance sheet, and continuing to fund operations and power construction through Bitcoin mining revenue.
Land & Site: Secured a reservation of ~33 hectares of industrial land in Finland (including a 110kV transmission line) to expand its Nordic data center footprint, supporting hyperscale and high-performance computing.
Power & Construction: The Norway site advanced to 110MW power readiness, with two 60MVA transformers completed and in transit, and high-voltage cables arriving in Q4, targeting energization within the year. The Finland site has obtained industrial zoning, with 80MW of load planned and phased expansion possible.
Customer & Leasing: Signed a binding 15-year lease agreement with OneQode for 110MW of capacity, for AI and HPC deployments, with initial commissioning targeted for H1 2027.
Technology Ecosystem: Deepened collaboration with Vertiv to strengthen critical power, thermal management, and liquid cooling capabilities for high-density AI infrastructure delivery.
Future Focus: Concentrate on Nordic (Norway, Finland) data center development, advance power readiness and customer signings, build a vertically integrated platform from land, power to compute delivery, and continue bringing in industry partners to accelerate project execution.
Akbar Shamji: Founder, Chairman & CEO. LinkedIn: linkedin.com/in/akbarshamji
Igor Kostioutchenko: Chief Financial Officer. LinkedIn: linkedin.com/in/kostioutchenko
Frank Arild Aadnevik: CEO of Norway subsidiary. LinkedIn: linkedin.com/in/aadnevik
Mohammed Bakhashwain: Founder & CEO. LinkedIn: linkedin.com/in/mohammed-bakhashwain-486aa5362