Bitdeer Acquires Power Plant For Bitcoin Mining Expansion In Canada

According to CoinDesk, Bitcoin mining company Bitdeer has announced the acquisition of a 101-megawatt gas-fired power plant near Fox Creek, Alberta. This move is part of Bitdeer's strategy to establish a vertically integrated Bitcoin mining operation in Canada. The acquisition represents a significant milestone for the company as it seeks to enhance control over costs, energy efficiency, and scalability. Haris Basit, Bitdeer's chief strategy officer, expressed enthusiasm about the company's first site in Canada, highlighting the extensive collaboration with government agencies and the Canadian Blockchain Consortium. Bitdeer plans to develop a 99-megawatt data center on the newly acquired site, which has the potential to scale up to 1 gigawatt. The energy production costs for the facility are projected to range between $20 to $25 per megawatt-hour. Additionally, the plant is licensed for a 99-megawatt interconnect to the local power grid. Bitdeer intends to sell power back to the Alberta grid during periods of high demand to help stabilize prices. Basit noted that by integrating their power generation capabilities with SEALMINER mining machines and participating in the grid, the site is expected to set a new standard for industry unit economics. The company has outlined plans to begin site preparation and initial infrastructure development in the second quarter of 2025, with full operational status anticipated by the fourth quarter of 2026. This development marks a significant step in Bitdeer's expansion efforts and its commitment to becoming a leading player in the Bitcoin mining industry.