Bitcoin miner Bitdeer acquires $21.7m power plant in Canada
Bitcoin mining firm Bitdeer has acquired 19 acres of land in Alberta, Canada for $21.7 million. The power plant could scale up to 1 GW of power.
According to Bitdeer, the site is fully licensed and already includes the permits required to construct an on-site natural gas power plant. In addition, Bitdeer also received approval to build a 99 megawatt interconnection grid with Alberta Electric System Operator worth around $30 million or $300,000 per MW. The 99 MW grid of datacenter capacity will be used to mine more Bitcoin.
The site comes with a projected energy production cost of around $20 to $25 per MWh, according to current gas prices.
In partnership with Engineering, Procurement and Construction or EPC Company, Bitdeer plans to develop and build a power plant that will be ready and energized by the fourth quarter of 2026. In addition, Bitdeer will be allowed to deploy 9 EH/s of its SEALMINER A3 mining machines once development on the site is complete.
As part of the deal, Bitdeer will deploy a carbon utilization system that captures CO2 on the site, making it a net zero carbon producer project. This is meant to offset Canada’s carbon tax and potentially generate revenue through carbon credits.
Premier of Alberta, Danielle Smith, welcomes the Bitcoin mining project and encourages other firms to come to Alberta if they want to “do business and have a plan to bring your own power.”
