Bitdeer Expands Operations with New Gas-Fired Power Plant Acquisition in Alberta
In a significant development for the Bitcoin mining sector, Bitdeer, a prominent Bitcoin (BTC) mining company, has announced its acquisition of a 101-MW gas-fired power plant located near Fox Creek, Alberta. This strategic move aims to establish a “vertically integrated” BTC mining operation.
“We are truly excited about establishing our roots in Alberta, marking our first site in Canada,” stated Haris Basit, the Chief Strategy Officer at Bitdeer, in a recent press release. “This acquisition represents the culmination of extensive collaboration with various government agencies and the Canadian Blockchain Consortium. It signifies a monumental step in our mission to become the first fully vertically integrated Bitcoin miner, providing us with unparalleled control over costs, energy efficiency, and scalability.”
Bitdeer has revealed plans to develop a 99 MW data center at the acquired site, which possesses the potential to scale up to an impressive 1 GW. The energy production costs for this facility are projected to range between $20 to $25 per MW/h.
Additionally, the plant is licensed for a 99 MW interconnection to the local power grid. Bitdeer intends to leverage this capability by selling power back to the Alberta grid, thereby contributing to price stabilization during peak demand periods.
“By integrating our own power generation, utilizing SEALMINER mining machines, and engaging in opportunistic grid participation, we believe this site will set a new benchmark for industry unit economics,” Basit elaborated.
Looking ahead, Bitdeer plans to initiate site preparation and initial infrastructure development in the second quarter of 2025 and aims to have the facility fully operational by the fourth quarter of 2026.
