Bitdeer acquires a 101-megawatt permitted website in Alberta for $21.7M to construct a bitcoin mining energy plant and information middle. The undertaking features a $90M pure fuel energy plant and a $30M mining facility, with full energization anticipated by This fall 2026.
Bitdeer Acquires Bitcoin Mining Operations with New Energy Venture
Bitcoin mining agency Bitdeer has bought a 101-megawatt permitted website in Alberta, Canada, for $21.7 million, aiming to construct a totally built-in bitcoin mining operation. The acquisition features a pure fuel energy plant undertaking and a 99-megawatt bitcoin mining information middle, with grid interconnection approval from the Alberta Electrical System Operator (AESO).
Bitdeer’s Funding and Improvement Timeline
Bitdeer plans to speculate $90 million within the energy plant and a further $30 million within the information middle, bringing the overall undertaking price to $120 million. Website preparation is predicted to start in Q2 2025, with full energization focused for This fall 2026.
By controlling ASIC chips, infrastructure, and energy technology, Bitdeer seeks to grow to be the trade’s first absolutely built-in Bitcoin mining agency. As of December 2024, the corporate managed 21.7 EH/s of hashing energy, together with 8.9 EH/s proprietary mining and 12.8 EH/s hosted for shoppers.
Strategic Transfer for Lengthy-Time period Development
This acquisition strengthens Bitdeer’s vertical integration technique, lowering operational prices and rising vitality effectivity in Bitcoin mining. By proudly owning its energy supply, the corporate can mitigate vitality value volatility, a key problem for mining corporations.
The Alberta website’s grid connection approval additionally allows Bitdeer to optimize vitality use whereas making certain regulatory compliance. With the Bitcoin mining trade going through elevated scrutiny over vitality consumption, securing a devoted energy supply positions Bitdeer competitively within the evolving market.
Trying Forward
Bitdeer’s funding highlights the continuing institutionalization of Bitcoin mining, with firms looking for long-term vitality options to stay aggressive. Because the crypto mining panorama evolves, vertically built-in operations like Bitdeer’s could set a brand new trade normal.
Observe official Bitdeer bulletins for updates on the Alberta undertaking’s progress and future developments in Bitcoin mining infrastructure.
