Odaily News Publicly traded bitcoin miner Bitdeer has closed a $21.7 million deal for a fully permitted power project on 19 acres of land near Fox Creek, Alberta. The acquisition enables Bitdeer to build an onsite natural gas power plant and gain approval for a 99-megawatt grid interconnection with the Alberta Electric System Operator (AESO).
Bitdeer expects to work with an engineering and construction firm to energize the power plant in the fourth quarter of 2026. At the same time, the company plans to develop a 99-megawatt data center dedicated to Bitcoin mining at the site.
Bitdeer called the move a key step toward becoming the industry’s first fully integrated bitcoin mining company, controlling its proprietary ASIC chips, data center infrastructure, and power generation capabilities.
According to the company, site preparation and initial infrastructure development will begin in the second quarter of 2025, with full energization expected in the fourth quarter of 2026.
While the land and permit acquisition cost $21.7 million in cash, Bitdeer estimates that the natural gas power plant will require an additional $90 million in capital investment. The bitcoin mining data center infrastructure is expected to cost another $30 million, or $300,000 per megawatt.
As of December 2024, Bitdeer manages 21.7 EH/s of mining power, including 8.9 EH/s of proprietary computing power and 12.8 EH/s of customer-hosted computing power.