Bitdeer Pioneers Fully-Integrated Bitcoin Mining with Alberta Site Acquisition

Deal News | Feb 05, 2025 | Globenewswire

Bitdeer Technologies Group has acquired a 101 MW site and gas-fired power project in Alberta, Canada, for $21.7 million, marking a significant step in its strategy to become the world’s first fully-vertically integrated Bitcoin miner. The fully licensed site has the potential to scale to 1 GW, mirroring Alberta’s rich energy resources and favorable regulatory environment. By Q4 2026, Bitdeer plans to develop a natural gas power plant and construct a 99 MW datacenter on the 19-acre site in collaboration with a leading EPC company. This will allow Bitdeer to control land, power generation, and Bitcoin mining processes, potentially reducing production costs significantly. By incorporating its own SEALMINER A3 machines, Bitdeer aims to achieve industry-leading efficiency and become a net-zero carbon producer with the help of installed carbon utilization systems. The project arsenal is supported by Alberta's welcoming energy market policies, aiming to provide flexibility in power and energy cost optimizations while innovating Bitcoin mining industry standards.

Sectors

Blockchain Technology
Energy and Utilities
High-Performance Computing

Geography

Canada – The acquisition site is located in Alberta, emphasizing Canada's significant role in this strategic business move by Bitdeer.
Singapore – Bitdeer Technologies Group is headquartered in Singapore, which is relevant in understanding company operations and strategic expansions.

Industry

Blockchain Technology – The article focuses on Bitdeer Technologies Group’s acquisition to enhance their Bitcoin mining operations, a key aspect of blockchain technology.
Energy and Utilities – Bitdeer’s acquisition includes a gas-fired power project which underscores the article's grounding in the energy and utility industry.
High-Performance Computing – Bitdeer's operations also involve high-performance computing and data center management, which is reflected in their new site acquisition.

Financials

$21.7 million – The cost of Bitdeer’s acquisition of the 101 MW site in Alberta.

Participants

Name	Role	Type	Description
Bitdeer Technologies Group	Acquiring Company	Company	A technology company focused on blockchain and high-performance computing, orchestrating vertically integrated Bitcoin mining solutions.
Danielle Smith	Premier of Alberta	Government	Commented on the project's significance for Alberta’s leadership in technology and innovation.
Haris Basit	Chief Strategy Officer	Person	Chief Strategy Officer at Bitdeer, commented on the strategic importance of the acquisition.
Alberta Electric System Operator (AESO)	Regulatory Body	Government	Regulatory body responsible for the grid interconnection approvals involved in this project.