Bitzero Locks in Competitive Energy Pricing with New Norwegian PPA December 15, 2025 In the energy-intensive world of cryptocurrency mining and high-performance computing, securing long-term, low-cost power is a critical determinant of operational viability and competitive edge. This strategic imperative is driving a wave of investment into regions with abundant and affordable renewable energy, with the Nordic countries emerging as a prime destination. Bitzero Blockchain Inc., a Vancouver-based cryptomine and HPC data center firm, has strengthened its position in this landscape by signing a new 10-megawatt power purchase agreement (PPA) for its facility in Namsskogan, Norway. The company announced the deal last week, though the specific energy provider was not disclosed. The agreement secures power at approximately $0.02 per kilowatt-hour. When blended with the site's existing power contracts, this brings the total average cost for the entire 40MW facility down to a range of $0.03–$0.035 per kWh. Bitzero described this as a "notable improvement" from its previously announced rate of around $0.04 per kWh. The Namsskogan site, known as Norway 1, currently operates 14,000 cryptomining rigs across its 40MW of capacity and is undergoing an expansion planned to reach 110MW, with a potential future ceiling of 325MW. Mohammed Bakhashwain, President and CEO of Bitzero, emphasized the deal's significance, stating, "Energy efficiency is the single most important driver of competitiveness in our industry. Securing long-term, stable, low-cost power positions us to protect margins, scale responsibly, and maintain one of the most cost-effective digital infrastructure footprints." He added that with Bitcoin trading at lower levels, this operational efficiency provides a "clear advantage over other operators who face higher power costs and tighter margins." Founded in 2021 and publicly listed on the Canadian Securities Exchange, Bitzero is notably backed by investor and television personality Kevin O'Leary. The Norway PPA is part of the company's broader portfolio strategy, which includes a 5MW leased site in nearby Røyrvik (Norway 2), a 2.5MW operational data center at a converted missile base in North Dakota with 30MW prepped for deployment, and a site under development in Finland. The move underscores a broader industry trend where operators are aggressively locking in fixed-price energy contracts to hedge against market volatility and ensure predictable operating costs. For regions like Norway, such deals further cement their appeal as sustainable and economically attractive hubs for power-hungry digital infrastructure. Source: datacenterdynamics
Bitzero, Backed by Kevin O'Leary, Secures Low-Cost 10MW Power Deal for Norwegian Data Center
