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Bitdeer Announces Strategic Acquisition of 101 MW Site and Gas-fired Power Project in Alberta to Deliver the Industry's First Fully-Vertically Integrated Bitcoin Mining Site
BTDRBITDEER(BTDR) Newsfilter·2025-02-04 23:07

Core Viewpoint - Bitdeer Technologies Group has successfully acquired a 101 MW gas-fired power project in Alberta for 21.7million,aimingtobecometheworld′sfirstfully−verticallyintegratedBitcoinmineratscale[1][3][5]AcquisitionDetails−Theacquisitionincludesallnecessarypermitsandlicensesforthepowerplantanda99MWgridinterconnectionwithAlbertaElectricSystemOperator[2]−Thesitehasthepotentialtoscaleto1GWofpower,leveragingAlberta′senergyresourcesandregulatorysupport[1][2]StrategicBenefits−TheprojectallowsBitdeertocontrolcosts,energyefficiency,andscalability,settinganewbenchmarkforindustryuniteconomics[5]−ThepartnershipwithaleadingEngineering,ProcurementandConstructioncompanywillfacilitatethedevelopmentofthepowerplant,expectedtobeenergizedbyQ42026[2][6]FinancialOverview−Thetotalcashcostfortheacquisitionis21.7 million, aiming to become the world's first fully-vertically integrated Bitcoin miner at scale [1][3][5] Acquisition Details - The acquisition includes all necessary permits and licenses for the power plant and a 99 MW grid interconnection with Alberta Electric System Operator [2] - The site has the potential to scale to 1 GW of power, leveraging Alberta's energy resources and regulatory support [1][2] Strategic Benefits - The project allows Bitdeer to control costs, energy efficiency, and scalability, setting a new benchmark for industry unit economics [5] - The partnership with a leading Engineering, Procurement and Construction company will facilitate the development of the power plant, expected to be energized by Q4 2026 [2][6] Financial Overview - The total cash cost for the acquisition is 21.7 million, with additional estimated costs of approximately 90millionforthegas−firedpowerplantandaround90 million for the gas-fired power plant and around 30 million for electrical and datacenter infrastructure [7][8] - Projected energy production costs are estimated to be between 20to20 to 25 per MWh based on current gas prices [8] Sustainability and Innovation - The project will implement a carbon utilization system to capture CO2, aiming for net-zero carbon production and potential revenue from carbon credits [8] - Bitdeer plans to curtail and sell power back to the Alberta grid, optimizing costs during high demand periods [8] Future Plans - Site preparation and initial infrastructure development are set to begin in Q2 2025, with energization planned for Q4 2026 [6]