- $21.7M acquisition of 101 MW gas-fired power facility
- The company said that the project has the potential to scale to 1 GW of power
- How The Bitdeer Technology would make impact
Bitcoin mining company Bitdeer has secured a $21.7 million acquisition of a 101-megawatt gas-fired power facility near Fox Creek, Alberta.This move aligns with its broader vision of establishing a fully integrated mining infrastructure, which allows greater operational control and efficiency of mining bitcoin.
On Tuesday, Bitdeer announced that it has fully licensed a 19-acre power project near Fox Creek, Alberta, from Kiwetinohk Energy. The site acquisition covers all necessary permits and approvals, allowing the company to develop a natural gas power plant with a 99 MW grid interconnection authorized by the Alberta Electric System Operator (AESO).
In a press release, Haris Basit, Chief strategy officer of Bitdeer, said “We are really excited about planting roots in Alberta, our first site in Canada. This acquisition is the culmination of extensive collaboration with multiple government agencies and the Canadian Blockchain Consortium, It marks a significant step in our strategy to become the first fully-vertically integrated Bitcoin miner, giving us unmatched control over costs, energy efficiency, and scalability.”
Danielle Smith, Premier of Alberta also had something to say regarding the project “We are so pleased to welcome the world’s first net-zero, fully integrated off-grid Bitcoin mining facility — right here in Alberta. Today’s investment is another sign that Alberta continues to be a leader in technology and innovation not only across the country, but across the world. If you want to do business and have a plan to bring your own power, then Alberta is the place for you.”
Bitdeer aims to activate the power facility by Q4 of 2026 through collaboration with an engineering and construction firm. The company also intends to establish a 99 MW data center dedicated to Bitcoin mining on-site.
With a potential of 1 GW, the location is designed for scalability. Expenses for electricity generation range from $20 to $25 per megawatt-hour. Bitdeer also plans to supply surplus electricity to the Alberta grid, helping to regulate pricing during peak consumption periods.
Advantages of The Bitdeer Technology
- Minimized Energy Expenses: Power generation costs are estimated to fall between $20 and $25 per megawatt-hour.
- Environmental Sustainability & Carbon Credit Potential: The initiative includes a carbon capture system designed to eliminate CO2 emissions, ensuring the project remains a net-zero carbon operation.
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