Bitdeer, a leading Bitcoin mining company, has finalized the acquisition of a 101-MW gas-powered facility near Fox Creek, Alberta, for $21.7 million. This strategic move will enable Bitdeer to build a fully integrated Bitcoin mining operation with greater control over its costs and energy efficiency.

“We are thrilled to establish our first Canadian site in Alberta,” said Haris Basit, Chief Strategy Officer at Bitdeer. “This acquisition is a crucial step in our mission to become the first entirely vertically integrated Bitcoin miner, allowing us to streamline our operations, enhance scalability, and reduce costs.”

The facility will house a 99 MW data center and has the capacity to expand up to 1 GW. With energy costs ranging between $20 to $25 per MW/h, Bitdeer aims to optimize operations while maintaining cost-effectiveness. Additionally, the plant has a 99 MW interconnection to the local power grid, and Bitdeer plans to sell excess electricity back to stabilize grid prices during peak demand periods.

“By combining our proprietary SEALMINER mining equipment with self-generated power and strategic grid involvement, we aim to set a new standard for mining economics,” Basit added.

The company intends to begin preparations and initial infrastructure work in Q2 2025, with the full operation expected to commence by Q4 2026.