Bitdeer Buys $21M Land in Canada for 99MW Bitcoin Mining Facility

Bitdeer has made a step towards turning into a totally built-in Bitcoin mining firm with a latest $21 million land acquisition in Canada.

The corporate revealed on Tuesday that it has obtained a totally licensed energy challenge on a 19-acre web site close to Fox Creek, Alberta, from Kiwetinohk Vitality.

Prices and Deadline Expectations

In line with a press release, this buy permits Bitdeer to construct an on-site pure fuel energy plant, with approval for a 99 MW connection to the Alberta Electrical System Operator (AESO) grid. The corporate can even construct a knowledge middle on the location particularly for Bitcoin mining.

With plans to have it absolutely operational by This fall 2026, the transfer is a part of a broader technique to change into the primary actually vertically built-in Bitcoin miner. This can give the Singapore-based firm management over its personal ASIC chips, knowledge middle infrastructure, and energy era.

Buying the land and permits value $21.7 million in money, with extra funding required for the facility plant and knowledge middle. The agency estimates that the plant would require a further $90 million, whereas the information middle will value one other $30 million, or $300,000 per megawatt.

As of December 2024, it managed 21.7 EH/s of hashing energy, together with 8.9 EH/s of proprietary hashrate and 12.8 EH/s of hosted hashrate for shoppers.

Strategic Advantages

As soon as the initiative is operational, Bitdeer goals to realize the bottom Bitcoin mining manufacturing prices ever seen within the trade.

Key advantages of the total vertical integration will embody low energy prices, estimated at $20 to $25 per MWh, improved sustainability with a decreased carbon footprint, and power value optimization achieved by promoting extra energy again to the Alberta grid during times of excessive demand.

“We’re actually enthusiastic about planting roots in Alberta,” stated the BTC miner’s Chief Technique Officer Haris Basit. “By combining our personal energy era, SEALMINER mining machines, and opportunistic grid participation, we imagine this web site will set a brand new benchmark for trade unit economics,” he added.

Past mining, Bitdeer has additionally been actively buying Bitcoin. In its newest replace, it revealed that it has elevated its holdings to 787 BTC following a latest addition of fifty BTC price $4.74 million.

The corporate additionally reported a 131% rise in its inventory worth in 2024, benefiting from Bitcoin’s rally regardless of the overall decline within the inventory costs of different crypto mining corporations.