Bitdeer to build 1 GW power plant in Canada, deploy 9 EH/s miners
Singapore-based Bitcoin mining company Bitdeer has announced the acquisition of a $21.7 million gas power project, including a 19-acre land parcel near Fox Creek in Alberta, Canada.
The facility has a power generation capacity of 101 MW and is fully licensed for the construction of a 1 GW power plant. Bitdeer has also secured approval to build a 99 MW interconnection with the Alberta Electric System Operator, an infrastructure project valued at approximately $30 million, which will be used to power Bitcoin mining operations.
Bitdeer plans to sell part of the electricity to Alberta’s grid to help stabilize gas prices during peak demand periods, potentially optimizing its operational costs. The power plant is set to be built and connected to the grid in partnership with an Engineering, Procurement, and Construction (EPC) company by Q4 2026. The site is expected to achieve an energy production cost of around $20–25 per MWh based on current gas prices.
Additionally, Bitdeer intends to deploy SEALMINER A3 mining rigs at the facility, achieving a total hashrate of 9 EH/s.
Alberta welcomes Bitcoin miners
This marks Bitdeer’s first venture in Canada. The company, founded by Bitmain co-founder Jihan Wu and partially owned by Tether, has previously acquired mining sites in the U.S., Bhutan, and Norway.
As part of the deal, Bitdeer will implement a carbon capture system, making the project carbon-neutral. This initiative is expected to offset Canada’s carbon emissions tax and potentially generate revenue through carbon credits.
“This project marks a major step in our strategy to become the first fully vertically integrated Bitcoin miner, giving us unparalleled control over costs, energy efficiency, and scalability,” said Bitdeer’s Chief Strategy Officer Harris Basit.
Alberta Premier Danielle Smith welcomed the Bitcoin mining initiative, inviting other companies to establish operations in Alberta if they seek “a business-friendly environment with a plan for energy self-sufficiency.”
As we wrote, Bitdeer Technologies Group has recorded an impressive performance for the first quarter of 2023, highlighting revenue growth and good cash flow despite the prevalent macroeconomic and crypto-market headwinds.
Latest Bitcoin News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
