Bitcoin (BTC) mining company Bitdeer announced today that it had acquired a 101-MW gas-fired power plant near Fox Creek, Alberta, to build a “vertically integrated” BTC mining operation.
“We are really excited about planting roots in Alberta, our first site in Canada. This acquisition is the culmination of extensive collaboration with multiple government agencies and the Canadian Blockchain Consortium,” Haris Basit, chief strategy officer at Bitdeer, said in a press release. “It marks a significant step in our strategy to become the first fully-vertically integrated Bitcoin miner, giving us unmatched control over costs, energy efficiency, and scalability.”
Bitdeer says they plan to build out a 99 MW datacenter on the site. The site has the capacity to scale to 1 GW. Energy production costs for the facility will be between $20 to $25 per MW/h.
The plant is also licensed for a 99 MW interconnect to the local power grid, and Bitdeer said it plans to sell power back to the Alberta grid to stabilize prices during periods of high demand.
“By combining our own power generation, SEALMINER mining machines and opportunistic grid participation, we believe this site will set a new benchmark for industry unit economics,” Basit added.
Bitdeer says it plans to commence site preparation and initial infrastructure development in Q2 2025 and have it fully operational in Q4 2026.
Asheesh Birla, the CEO of Evernorth Holdings Inc., revealed why the Nasdaq-listed digital asset treasury…
The RWA market is evolving rapidly, according to a new report shared today by institutional…
Ripple-linked XRP may be one of the biggest names in the cryptoverse today, but its…
The debate over whether Bitcoin’s hashing algorithm can be hacked continues to evolve. This time,…
The Cardano Foundation has urged the European Commission not to broaden the Markets in Crypto-Assets…
Matt Crosby, a research director at Look Into Bitcoin, said in a recent interview that…