Bitdeer Acquires Alberta Power Project

Bitcoin mining firm Bitdeer has completed a $21.7 million deal to acquire a 101-megawatt power project in Alberta, Canada, aiming to scale up its mining operations.

The Nasdaq-listed company announced on Tuesday that it acquired the site, complete with permits and licenses, on 19 acres of land near Fox Creek, Alberta. The project has the potential to scale to 1 GW of power.

Bitdeer intends to further develop the Alberta power plant, which it plans to energize by the fourth quarter of 2026.

> “This newly acquired site and power generation project provides the Company a unique opportunity to become the world’s first fully-vertically integrated Bitcoin miner at scale and potentially achieve some of the lowest Bitcoin mining production costs in the industry,” Bitdeer said in a statement.

Haris Basit, chief strategy officer of Bitdeer, stated, “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.”

Headquartered in Singapore, Bitdeer has mining operations in the U.S., Norway, and Bhutan. As of December, Bitdeer manages about 21.6 EH/s of hashing power according to its latest operational update.