Bitcoin Mining Giant Bitdeer Expands Operations with $21.7M Power Facility Acquisition in Canada
New Alberta Power Plant Acquisition Positions Bitdeer for Mining Dominance
Bitcoin mining firm Bitdeer has announced the acquisition of a power facility in Alberta, Canada, for $21.7 million. This strategic move is expected to significantly enhance Bitdeer’s mining efficiency and operational scalability.
Located on 19 acres of land near Fox Creek, the newly acquired power project has an initial capacity of 101 megawatts (MW) with the potential to scale up to 1 gigawatt (GW). The company plans to energize the facility by Q4 2026, marking a major step in its long-term expansion strategy.
Bitdeer Aims for Vertical Integration in Bitcoin Mining
According to Haris Basit, Chief Strategy Officer at Bitdeer, the acquisition positions the company as a fully vertically integrated Bitcoin mining operation, allowing it to:
- Control energy costs more effectively
- Optimize power efficiency for mining operations
- Reduce production costs, increasing profitability
This move aligns with Bitdeer’s strategy of securing sustainable energy sources to remain competitive in the evolving cryptocurrency mining industry.
Bitdeer’s Expanding Global Footprint
Bitdeer, a Nasdaq-listed company, currently operates mining facilities in the U.S., Norway, and Bhutan. As of December 2024, Bitdeer reported a mining capacity of 21.6 exahashes per second (EH/s), solidifying its position as a leading Bitcoin miner.
The Alberta project comes with pre-approved permits and licenses, ensuring a smooth development process. This acquisition underscores Bitdeer’s aggressive expansion efforts as it looks to scale operations amid increasing demand for energy-efficient Bitcoin mining solutions.
Final Thoughts: Bitdeer’s Next Big Move
With its latest $21.7 million investment in Canada, Bitdeer is making a bold play to dominate the Bitcoin mining landscape. By securing its own energy source, the company aims to reduce operational risks and strengthen its competitive edge in an industry facing rising energy costs and regulatory scrutiny.
As the Bitcoin mining sector continues to evolve, Bitdeer’s strategic expansion signals confidence in the long-term potential of digital asset mining—a move that could redefine industry standards for energy efficiency and cost management.
