Bitdeer acquires a 101-megawatt permitted site in Alberta for $21.7M to build a bitcoin mining power plant and data center. The project includes a $90M natural gas power plant and a $30M mining facility, with full energization expected by Q4 2026.
Bitdeer Acquires Bitcoin Mining Operations with New Power Project
Bitcoin mining firm Bitdeer has purchased a 101-megawatt permitted site in Alberta, Canada, for $21.7 million, aiming to build a fully integrated bitcoin mining operation. The acquisition includes a natural gas power plant project and a 99-megawatt bitcoin mining data center, with grid interconnection approval from the Alberta Electric System Operator (AESO).
Bitdeer’s Investment and Development Timeline
Bitdeer plans to invest $90 million in the power plant and an additional $30 million in the data center, bringing the total project cost to $120 million. Site preparation is expected to begin in Q2 2025, with full energization targeted for Q4 2026.
By controlling ASIC chips, infrastructure, and power generation, Bitdeer seeks to become the industry’s first fully integrated Bitcoin mining firm. As of December 2024, the company managed 21.7 EH/s of hashing power, including 8.9 EH/s proprietary mining and 12.8 EH/s hosted for clients.
Strategic Move for Long-Term Growth
This acquisition strengthens Bitdeer’s vertical integration strategy, reducing operational costs and increasing energy efficiency in Bitcoin mining. By owning its power source, the company can mitigate energy price volatility, a key challenge for mining firms.
The Alberta site’s grid connection approval also enables Bitdeer to optimize energy use while ensuring regulatory compliance. With the Bitcoin mining industry facing increased scrutiny over energy consumption, securing a dedicated power source positions Bitdeer competitively in the evolving market.
Looking Ahead
Bitdeer’s investment highlights the ongoing institutionalization of Bitcoin mining, with companies seeking long-term energy solutions to remain competitive. As the crypto mining landscape evolves, vertically integrated operations like Bitdeer’s may set a new industry standard.
Follow official Bitdeer announcements for updates on the Alberta project’s progress and future developments in Bitcoin mining infrastructure.
