Bitdeer, a leading player in the Bitcoin mining industry, has acquired a 101-MW gas-powered plant near Fox Creek, Alberta, for $21.7 million. This strategic purchase will allow Bitdeer to launch a vertically integrated mining operation with unmatched control over production costs and energy efficiency.
“We’re thrilled to establish our first Canadian presence in Alberta,” said Haris Basit, Chief Strategy Officer at Bitdeer. “This acquisition is the result of close collaboration with Canadian government entities and the Canadian Blockchain Consortium. It represents a major step toward our vision of becoming the first fully vertically integrated Bitcoin miner, which will give us a competitive edge in terms of cost control and scalability.”
The newly acquired plant will house a 99 MW data center, with plans to eventually scale the facility to a massive 1 GW. The cost of energy generation at the plant is projected to range between $20 to $25 per MW/h. The facility is also licensed for a 99 MW interconnection with the local power grid, allowing Bitdeer to sell excess energy back to the Alberta grid during peak demand periods.
“We believe that combining our own power generation capabilities, our innovative SEALMINER mining machines, and active participation in the power grid will redefine industry standards for mining economics,” Basit added.
Bitdeer is set to begin site preparation and infrastructure development in Q2 2025, with plans to have the operation fully functional by Q4 2026.
