- Acquisition of 101-MW gas-fired power plant positions Bitdeer for vertical integration in Bitcoin mining operations.
- Facility located in Fox Creek, Alberta marks Bitdeer’s first Canadian expansion with potential to scale to 1 GW capacity.
- Energy production costs estimated between $20-25 per MW/h, indicating competitive operational efficiency.
- Project includes 99 MW grid interconnection capability for power sales during peak demand periods.
- Development timeline spans from Q2 2025 to full operational status in Q4 2026.
Bitdeer, a prominent Bitcoin mining operator, has secured a strategic foothold in Canada‘s energy-rich Alberta province through the acquisition of a 101-MW gas-fired power plant near Fox Creek. The move represents a significant step toward establishing a fully integrated Bitcoin mining operation that combines power generation with cryptocurrency production.
The facility’s planned 99 MW datacenter showcases the company’s commitment to vertical integration in the competitive mining sector. “We are really excited about planting roots in Alberta, our first site in Canada,” stated Haris Basit, chief strategy officer at Bitdeer, in a press release.
The project’s economics appear particularly favorable, with energy production costs ranging between $20-25 per MW/h. This pricing structure could provide Bitdeer with a significant competitive advantage in the mining sector, where electricity costs typically constitute the largest operational expense.
In an innovative approach to grid stability, the facility’s 99 MW interconnection license will enable Bitdeer to sell excess power back to Alberta’s grid during high-demand periods. This capability represents a growing trend among cryptocurrency miners who are increasingly positioning themselves as flexible power consumers that can help stabilize regional power networks.
The project’s implementation will commence with site preparation in Q2 2025, targeting full operational status by Q4 2026. Bitdeer plans to utilize its proprietary SEALMINER equipment at the facility, further enhancing operational efficiency through integrated hardware and power management systems.
This development follows a broader industry trend of mining companies seeking energy independence through direct power plant ownership, particularly in regions with favorable regulatory environments and abundant natural resources. The Canadian Blockchain Consortium’s involvement suggests strong regional support for cryptocurrency infrastructure development.
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