Bitdeer Acquires 101 MW Site for Alberta's First Integrated Bitcoin Mining Operation
Alberta, Wednesday, 5 February 2025.
Bitdeer purchases a 101 MW site in Alberta, establishing the first fully integrated Bitcoin mining operation with goals of low-cost, net-zero carbon production by 2026.
Strategic Expansion into Canadian Market
Bitdeer Technologies Group (NASDAQ: BTDR) has made a significant move into the Canadian market with its $21.7 million acquisition of a 101 MW Bitcoin mining site and gas-fired power project in Fox Creek, Alberta [1][2]. The transaction, announced on February 4, 2025, involves purchasing the Opal natural gas-fired power project from Kiwetinohk Energy Corp [2]. The 19-acre site comes with all necessary permits for an on-site natural gas power plant and includes a crucial 99 MW grid connection with the Alberta Electric System Operator [1].
Infrastructure and Investment Details
The company’s comprehensive development plan includes approximately 120 million in additional investments, with $90 million allocated for the gas-fired power plant and $30 million for electrical and datacenter infrastructure [1]. Bitdeer plans to deploy roughly 9 EH/s of SEALMINER A3 mining machines, featuring impressive efficiency levels of 11-12 J/TH [1]. This development comes at a time when other major players in the industry, such as CleanSpark and Riot Platforms, are reporting substantial mining productions of 626 and 527 Bitcoin respectively in January 2025 [3].
Environmental Innovation and Cost Efficiency
A standout feature of this project is its innovative approach to environmental sustainability. The facility will incorporate a carbon utilization system to capture CO2, positioning it as a net-zero carbon producer [1]. This environmental consciousness doesn’t come at the expense of economic efficiency - Bitdeer aims to achieve remarkably low production costs of $20 to $25 per MWh [1]. The Premier of Alberta, Danielle Smith, has endorsed the project, highlighting its significance as the world’s first net-zero, fully integrated off-grid Bitcoin mining facility [1].
Timeline and Future Prospects
The development timeline indicates site preparation and initial infrastructure development will commence in Q2 2025, with full energization targeted for Q4 2026 [1]. The project’s strategic importance is emphasized by Haris Basit, Bitdeer’s Chief Strategy Officer, who notes that this acquisition resulted from extensive collaboration with multiple government agencies and the Canadian Blockchain Consortium [1]. The site’s potential to scale up to 1 GW of power positions Bitdeer for significant future expansion opportunities [1].