To expand its mining business, Bitdeer, a Bitcoin mining company, has paid $21.7 million to purchase a 101-megawatt power facility in Alberta, Canada.
The Nasdaq-listed company revealed on Tuesday that it had purchased the 19-acre property close to Fox Creek, Alberta, complete with permits and licenses. According to the business, the project might grow to a power output of 1 GW.
To energize the Alberta power plant by the fourth quarter of 2026, Bitdeer said it plans to continue building and developing it.
Bitdeer stated, “The company has a unique opportunity to become the first fully vertically integrated Bitcoin miner at scale and possibly achieve some of the lowest Bitcoin mining production costs in the industry with this newly acquired site and power generation project.”
“Being the first fully vertically integrated bitcoin miner is a significant step in our strategy, providing us unparalleled control over costs, energy efficiency, and scalability,” the company’s chief strategy officer, Haris Basit, said.
The company operates mining operations in the United States, Norway, and Bhutan, with its headquarters in Singapore. According to its most recent operational report, Bitdeer managed roughly 21.6 EH/s of hashing power in December.
