Bitdeer, a Bitcoin mining firm, has paid $21.7 million for 19 acres of land next to Fox Creek in Alberta, Canada. The company has also secured a 101 megawatt (MW) site permit and plans to construct a 99 MW Bitcoin mining data center and a natural gas power plant.
The firm also stated in its official announcement that Alberta’s location influenced the choice of land. Given Alberta’s wealth of energy resources, pro-business climate, and kind regulatory stance, the facility could grow to 1 GW of power.
Bitdeer Receives Required License For Natural Gas Plant
The firm also announced that all permissions and licenses needed to build a natural gas power plant on the property are included in the 101 MW gas-fired power project.
Additionally, a 99 MW grid interconnection with Alberta Electric System Operator has been approved. The power plant is anticipated to be operational by Q4 2026 and will be developed and built by Bitdeer in collaboration with a top Engineering, Procurement, and Construction (“EPC”) firm.
Regarding the project, Danielle Smith, Premier of Alberta said, “We are so pleased to welcome the world’s first net-zero, fully integrated off-grid Bitcoin mining facility — right here in Alberta.”
They add, “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. If you want to do business and have a plan to bring your own power, then Alberta is the place for you.”
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Bitdeer’s Bitcoin Mining Facility Plan
The company also announced that it intends to construct 99 MW of data center capacity for Bitcoin mining at the same time.
The company has a rare opportunity to become the first completely vertically integrated Bitcoin miner at scale in the world and maybe attain some of the lowest production costs in the Bitcoin mining business thanks to this recently purchased location and power generation project.
The move comes at a time when Bitcoin mining has been picking up pace again. The growing demand for cryptocurrencies and mining’s increasing profitability are the main drivers of the expansion of Bitcoin mining facilities.
More businesses are investing in extensive mining operations as the value of Bitcoin increases, frequently using renewable energy sources to address environmental concerns. These facilities are growing all across the world, especially in areas where electricity prices are lower.
Site preparation and preliminary infrastructure development are scheduled to begin in Q2 2025, while energization is scheduled to begin in Q4 2026.
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