Bitdeer has acquired a 101 MW site and a gas-fired power project near Fox Creek, Alberta, Canada, for a total value of $21.7 million.
The site is fully licensed to build a natural gas power plant and has approval for a 99-megawatt interconnection grid with the Alberta Electric System Operator, costing around $30 million. This grid will support Bitcoin mining operations, with energy production costs estimated between $20 to $25 per MWh, depending on gas prices.
Working in partnership with an Engineering, Procurement, and Construction (EPC) company, the Singapore-based Bitcoin mining firm plans to build a power plant that is expected to be operational by the fourth quarter of 2026. 9 EH/s of its SEALMINER A3 machines will enhance its mining capacity upon completion. The company also plans to sell electricity back to the Alberta grid during peak demand periods, aiming to stabilize gas prices and optimize operational costs.
Haris Basit, Chief Strategy Officer at Bitdeer, emphasized that this marks the company’s first site acquisition in Canada, following similar expansions in the U.S., Bhutan, and Norway. “This deal represents a key step in our strategy to become the first fully vertically integrated Bitcoin miner, giving us unmatched control over costs, energy efficiency, and scalability,” Basit stated.
Bitdeer is implementing a carbon utilization system to capture CO2 and become a net-zero carbon producer. This initiative aims to offset Canada’s carbon tax and generate revenue from carbon credits.
Premier of Alberta, Danielle Smith, expressed support for a project inviting firms to Alberta, emphasizing the province’s leadership in technology and innovation. Simultaneously, Bitdeer secured a 30-year lease with the Monroe County Port Authority in Ohio, gaining access to 570 MW of power capacity at the Hannibal Industrial Park, previously an aluminium processing facility. This location will facilitate Bitdeer’s Bitcoin mining, high-performance computing, and artificial intelligence expansion.
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