Bitdeer, a leading Bitcoin mining company, announced the acquisition of a 101-MW gas-powered plant near Fox Creek, Alberta, for $21.7 million. The move aims to establish a vertically integrated BTC mining operation, making Bitdeer one of the most cost-efficient players in the industry.
“This acquisition is a milestone for us, marking our first foray into Canada and Alberta,” said Haris Basit, Chief Strategy Officer at Bitdeer. “It represents a major step towards our goal of becoming the first fully vertically integrated Bitcoin miner, providing us with greater control over our costs, energy efficiency, and scalability.”
Bitdeer plans to build a 99-MW data center at the facility, which has the potential to expand to a capacity of 1 GW. The energy costs for operating the plant will range between $20 to $25 per MW/h. Additionally, the plant is licensed for a 99 MW connection to the local power grid. The company intends to sell excess energy back to the grid to help stabilize electricity prices during peak demand periods.
“Our integrated approach, combining self-generated power, SEALMINER mining rigs, and participation in the local grid, will set new standards for industry economics,” Basit added.
The company is set to begin site preparation and infrastructure development in Q2 2025, with plans to make the operation fully functional by Q4 2026.
