Bitdeer Technologies Group announced the successful acquisition of a fully licensed and permitted 101 MW site and gas-fired power project near Fox Creek, Alberta, for US$21.7 million in an all-cash transaction. This strategic move positions Bitdeer to become the world's first fully-vertically integrated Bitcoin miner at scale.
The acquired site, spanning 19 acres, includes all necessary permits for constructing an on-site natural gas power plant and approval for a 99 MW grid interconnection. Bitdeer plans to develop and construct the power plant in partnership with a leading Engineering, Procurement and Construction (EPC) company, with energization expected by Q4 2026.
This integration of power generation with mining operations is anticipated to achieve some of the lowest Bitcoin mining production costs in the industry, with estimated energy production costs ranging from US$20 to US$25 per megawatt-hour. The project also includes plans for a carbon utilization system for net-zero carbon production and the flexibility to sell power back to the grid.
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