Bitdeer Acquires 101-MW Gas-Fired Power Plant to Build Vertically Integrated BTC Mining Operation
Strategic Acquisition in Alberta, Canada
Bitdeer, a leading Bitcoin (BTC) mining company, has announced the acquisition of a 101-MW gas-fired power plant near Fox Creek, Alberta, Canada. This significant move marks a major step towards building a vertically integrated BTC mining operation, allowing the company to have unmatched control over costs, energy efficiency, and scalability.
Acquisition Details
The acquired power plant has the capacity to scale to 1 GW, with energy production costs ranging from $20 to $25 per MW/h. The plant is also licensed for a 99 MW interconnect to the local power grid, enabling Bitdeer to sell excess power back to the Alberta grid during periods of high demand.
Plans for the Site
Bitdeer plans to build a 99 MW datacenter on the site, with the aim of commencing site preparation and initial infrastructure development in Q2 2025. The company expects the site to be fully operational by Q4 2026.
Benefits of the Acquisition
By combining its own power generation, SEALMINER mining machines, and opportunistic grid participation, Bitdeer believes this site will set a new benchmark for industry unit economics. The company’s chief strategy officer, Haris Basit, expressed excitement about the acquisition, stating, “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.”
FAQs
Q: What is the capacity of the acquired power plant?
A: The acquired power plant has a capacity to scale to 1 GW.
Q: What are the energy production costs for the facility?
A: The energy production costs range from $20 to $25 per MW/h.
Q: Is the plant licensed for interconnection to the local power grid?
A: Yes, the plant is licensed for a 99 MW interconnect to the local power grid.
Q: When does Bitdeer plan to commence site preparation and initial infrastructure development?
A: Bitdeer plans to commence site preparation and initial infrastructure development in Q2 2025.
Q: When does Bitdeer expect the site to be fully operational?
A: Bitdeer expects the site to be fully operational by Q4 2026.
Conclusion
Bitdeer’s acquisition of the 101-MW gas-fired power plant in Alberta, Canada, marks a significant milestone in the company’s strategy to become the first fully vertically integrated BTC mining operation. With its own power generation, SEALMINER mining machines, and opportunistic grid participation, Bitdeer is poised to set a new benchmark for industry unit economics. As the company moves forward with its plans, it is likely to have a major impact on the BTC mining landscape.
