Catenaa, Tuesday, February 11, 2025 – Bitcoin mining firm Bitdeer has acquired a 101-megawatt power project in Alberta, Canada, for $21.7 million, marking a significant expansion in its mining operations.
The Nasdaq-listed company said Tuesday that the newly acquired site, located near Fox Creek, Alberta, spans 19 acres and includes existing permits and licenses.
Bitdeer plans to develop the project further, aiming to energize it by the fourth quarter of 2026. The company said the site has the potential to scale up to 1 gigawatt of power.
“This newly acquired site and power generation project provides Bitdeer a unique opportunity to become the world’s first fully vertically integrated Bitcoin miner at scale,” the company said in a statement.
Haris Basit, Bitdeer’s chief strategy officer, said the move strengthens the firm’s control over costs, energy efficiency and scalability.
Headquartered in Singapore, Bitdeer operates mining facilities in the United States, Norway and Bhutan. As of December, the firm managed approximately 21.6 exahashes per second (EH/s) of hashing power, according to its latest operational update.
