When operating water recirculating systems (RAS) with high make-up water flushing rates in locations that have low alkalinity in the raw water, such as Norway, knowledge about the required RAS alkalinity concentration is important. Flushing RAS with make-up water containing low alkalinity washes out valuable base added to the RAS (as bicarbonate, hydroxide, or carbonate), which increases farm operating costs when high alkalinity concentrations are maintained; however, alkalinity must not be so low that it interferes with nitrification or pH stability. For these reasons, a study was designed to evaluate the effects of alkalinity on biofilter performance, and CO2 stripping during cascade aeration, within two replicate semi-commercial scale Atlantic salmon smolt RAS operated with moving bed biological filters. Alkalinity treatments of nominal 10, 70, and 200 mg/L as CaCO3 were maintained using a pH controller and chemical dosing pumps supplying sodium bicarbonate (NaHCO3). Each of the three treatments was replicated three times in each RAS. Both RAS were operated at each treatment level for 2 weeks; water quality sampling was conducted at the end of the second week. A constant feeding of 23 kg/day/RAS was provided every 1–2 h, and continuous lighting, which minimized diurnal fluctuations in water quality. RAS hydraulic retention time and water temperature were 4.3 days and 12.5 ± 0.5 °C, respectively, typical of smolt production RAS in Norway.