Bitdeer Bitcoin Mining Expands With New Canada Facility

Key Points:

• Bitdeer plans to construct a natural gas power plant and a 99 MW Bitcoin mining data center in Alberta, Canada.
• The total investment for the project is projected to be $141.7 million.

Bitdeer Bitcoin Mining, led by Jihan Wu, acquired 19 acres in Alberta for $21.7M, securing a 101 MW permit to build a $90M power plant and a 99 MW mining data center.

Bitdeer Bitcoin Mining Expands in Canada

Under the leadership of Jihan Wu, Bitdeer expanded into Canada by acquiring 19 acres near Fox Creek, Alberta. This comprises a 101 MW site permit, which sealed the company's determination to better its Bitcoin mining capability. The infrastructure will consist of a natural gas power plant and a 99 MW data center dedicated to Bitcoin mining operations.

This investment plan has set aside $21.7 million for the purchase of land and permits. In addition, it will require a $90 million investment in the construction of a natural gas power plant, while the data center development will require $30 million. Such a huge investment by Bitdeer reflects the seriousness of the group to build a strong presence in the North American Bitcoin mining ecosystem, according to Bitdeer.

Read more: Bitcoin Mining Revenue Plunges to $1.4B in January

Financial Commitment of Bitdeer's Canadian Mining Project

Bitdeer acquired land and a site permit for 101 MW near Fox Creek, Alberta, by investing $21.7 million as a strategic move toward scaling up mining. This was reportedly part of its strategic expansion into the Canadian market.

The project will involve the construction of a natural gas power plant estimated at $90 million and a 99 MW Bitcoin mining data center, whose construction is estimated to be $30 million. Those are developments showcasing how Bitdeer intends to integrate energy production with high-performance computing infrastructure for better efficiency and sustainability in its mining operations.