Bitdeer Technologies Group has announced the acquisition of a 101-megawatt site and gas-fired power project in Alberta, Canada for $21.7 million in cash. The strategic move positions the company to become the world's first fully vertically integrated Bitcoin mining operation at scale.
The 19-acre site, located near Fox Creek, Alberta, comes with permits for an on-site natural gas power plant and 99-MW grid interconnection approval. The facility has expansion potential up to 1 gigawatt of power capacity.
Expected to be operational by Q4 2026, the project will host approximately 9 EH/s of Bitdeer's SEALMINER A3 mining machines, featuring industry-leading efficiency ratings of 11-12 J/TH.
The total investment for the project is estimated at $141.7 million, including:
- $21.7 million for site acquisition
- $90 million for power plant construction
- $30 million for electrical and datacenter infrastructure
A key advantage of the project is the projected low energy costs of $20-25 per MWh. The facility will incorporate a carbon utilization system aimed at achieving net-zero carbon production, potentially generating additional revenue through carbon credits.
"We are excited about planting roots in Alberta, our first site in Canada," said Haris Basit, Chief Strategy Officer at Bitdeer. "This marks a major step in our strategy to become the first fully-vertically integrated Bitcoin miner."
Alberta Premier Danielle Smith welcomed the investment, noting: "Today's investment is another sign that Alberta continues to be a leader in technology and innovation not only across the country but across the world."
Development is scheduled to begin in Q2 2025, with the facility expected to be energized by Q4 2026. The project represents a new benchmark in Bitcoin mining infrastructure, combining power generation, mining operations, and environmental sustainability in a single integrated facility.