Bitcoin mining company Bitdeer is making big moves by inking a sweet deal for a power project in Alberta, Canada, for a cool $21.7 million.
Zero emission electric miners
Bitdeer announced that it has officially acquired a 101-megawatt power project on 19 acres of land near Fox Creek, and the site is already equipped with permits and licenses, which means they’re ready to roll.
The company even hinted that this project could scale up to 1 gigawatt of power.
Bitdeer plans to develop this Alberta power plant further, with hopes of flipping the switch by the fourth quarter of 2026.
Many experts think that this could be a game-changer for the company, and the Canadian mining industry as well.
Progress is unstoppable
In their statement, Bitdeer expressed excitement about this new venture, saying it gives them a unique shot at becoming the world’s first fully vertically integrated Bitcoin miner at scale. Translation?
They’re wanting to cut costs and boost efficiency in ways that could leave competitors in the dust.
Haris Basit, Bitdeer’s chief strategy officer, chimed in with enthusiasm, stating that this acquisition is a major leap toward their goal of full integration.
It’s all about having control over costs and energy efficiency while scaling up operations, basically, they want to be the top dog in Bitcoin mining.
International expansion
Bitdeer is headquartered in Singapore and has already established mining operations in the U.S., Norway, and Bhutan.
As of December, they boasted about 21.6 EH/s of hashing power under management, so it’s clear Bitdeer is not just sitting back, but they’re charging ahead with plans to reshape the Bitcoin mining sector.
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