TL;DR
- Bitdeer has acquired a 101-megawatt energy project in Alberta, Canada, for $21.7 million, with the potential to expand up to 1 GW.
- The company plans to build a natural gas power plant and a Bitcoin mining data center, requiring an additional $120 million in investment.
- Bitdeer aims to become the first fully integrated Bitcoin mining firm, controlling its infrastructure, power generation, and ASIC chip manufacturing.
Bitdeer, the Bitcoin mining company founded by Jihan Wu, has taken a strategic step forward with the acquisition of an energy project in Alberta, Canada, for $21.7 million. The site, located in Fox Creek, has a 101-megawatt capacity and the potential to scale up to 1 gigawatt in the future. This acquisition grants Bitdeer direct access to a stable and scalable energy source, a crucial factor in reducing operational expenses and ensuring long-term sustainability. With this move, the company strengthens its ambition to become the first fully integrated Bitcoin miner, optimizing costs and energy efficiency in an increasingly competitive industry.
Bitdeer’s plan does not stop at acquiring land and permits. The company has projected an additional $90 million investment to construct a natural gas power plant and another $30 million to establish a 99 MW Bitcoin mining data center. By leveraging its own energy infrastructure, Bitdeer aims to mitigate the risks associated with fluctuating electricity prices and potential supply disruptions. This approach would allow the company to control its own power supply and significantly reduce production costs compared to other miners who rely on third-party energy providers.
Bitcoin Mining and the Future of Energy Self-Sufficiency
“This is a key step in our strategy to become the first fully vertically integrated Bitcoin miner, giving us complete control over costs, energy efficiency, and scalability,”
said Haris Basit, Bitdeer’s Chief Strategy Officer. With operations already established in the U.S., Norway, and Bhutan, the expansion into Canada further strengthens the company’s global presence and solidifies its standing in the industry.
Bitdeer’s approach reflects a growing trend in Bitcoin mining: integrating infrastructure and power generation to improve profitability. As energy costs rise and regulations tighten, mining companies are looking for more sustainable and efficient alternatives.
In this sense, the Alberta project not only strengthens Bitdeer’s position but could also pave the way for future investments in the sector.
With plans to energize the plant by the fourth quarter of 2026, Bitdeer continues to push for growth and innovation in Bitcoin mining, proving that the sector still holds immense potential—especially for those willing to invest in long-term infrastructure development.