Bitdeer
Announces Strategic Acquisition of 101 MW Site and Gas-Fired Power Project in Alberta to Deliver Industry's First Fully Integrated Bitcoin Mining Facility Bitdeer Technologies Group (NASDAQ: BTDR) ("Bitdeer" or "High-Tech Blockchain Success Company") today announced the acquisition of a fully licensed and permitted 10 MW site project in Albert Creek, 10 fir a in an all-cash transaction for $21.7 million. The site has the potential to scale to 1 GW of power, reflecting Alberta's abundant energy resources, favorable regulatory position and business-friendly environment.
The 101 MW gas power project includes all necessary permits and licenses for the construction of an on-site natural gas-fired power plant, as well as approval for a 99 MW grid interconnection with the Alberta Electric System Operator ("AESO"). Bitdeer will develop and construct the power plant in partnership with a leading engineering, procurement and construction ("EPC") firm and is expected to receive power by Q4 2026. In parallel, the Company plans to build 99 MW of data center capacity for Bitcoin mining. This newly acquired site and power generation project provides the Company with a unique opportunity to become the world's first vertically integrated Bitcoin miner at scale and potentially some of the lowest Bitcoin mining production costs in the industry.
Strategic Advantages
Full vertical integration: The Company will have control of the land, power generation, electrical infrastructure and data center, as well as the use of its own developed and manufactured Bitcoin mining machinery. The Company can deploy approximately [9] EH/s of its SEALMINER A3 mining rigs once they are completed, which are expected to have a peak machine-level efficiency of 11-12 J/TH. Low energy costs: Energy production costs are expected to be approximately $20-25 per MWh1, based on current gas prices. Sustainability and carbon credit potential: As part of the project acquisition, Bitdeer will implement a carbon utilization system that captures CO2, making the project a net zero carbon producer. This initiative aims to offset Canada's carbon tax obligations and could generate future revenue through carbon credits. Energy cost optimization and revenue flexibility: The company plans to reduce and sell electricity back to the Alberta grid to stabilize prices during periods of high demand. The company believes this can also optimize costs. "We are really excited to be setting up in Alberta, our first site in Canada. "This acquisition is the culmination of an extensive collaboration with multiple government agencies and the Canadian Blockchain Consortium. "This marks an important milestone in our strategy to become the first vertically integrated Bitcoin miner, providing unprecedented cost control, energy efficiency and scalability," said Haris Basit, Chief Strategy Officer at Bitdeer. "By combining our energy production, SEALMINER mining machine and opportunistic network participation, we believe this site will set a new benchmark in industrial unit economics. »
Regarding the project, Alberta Premier Danielle Smith said: "We are very pleased to welcome the world's first fully integrated, carbon-neutral, off-grid Bitcoin mining facility here in Alberta. Today's investment is another sign that Alberta continues to be a leader in technology and innovation, not only in this country, but around the world. If you want to do business and have a plan to bring your own energy, then Alberta is the place for you."
Estimated Costs and Development Plan
The company expects to begin site preparation and initial infrastructure development in the second quarter of 2025 and power in the fourth quarter of 2026. Current and Estimated Asset Costs
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About Bitdeer Technologies Group
Bitdeer is a leading technology company in the blockchain and high-performance computing sectors. Bitdeer is committed to providing comprehensive IT solutions to its clients. The company manages the complex processes involved in IT such as equipment procurement, transportation logistics, data center design and construction, equipment management, and day-to-day operations. The company also offers advanced cloud capabilities to clients with high demand for artificial intelligence. Headquartered in Singapore, Bitdeer has established data centers in the United States, Norway, and Bhutan. For more information, please visit https://ir.bitdeer.com/ or follow Bitdeer on X @BitdeerOfficial and LinkedIn @Bitdeer Group.
Investors and others should note that Bitdeer may announce material information using its website and/or through its accounts on social media platforms, including X, formerly known as Twitter, Facebook and LinkedIn. Accordingly, Bitdeer encourages investors and others to review the information it publishes on social media and other communication channels listed on its website.
Forward-Looking Statements
Statements in this press release regarding future expectations, plans and prospects, as well as other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of the Private Litigation Reform Act of 1995. "Potential," "anticipate," "project," "should," "target," "expect," "express," "expressions" are not intended to identify forward-looking statements containing these identifying words. Actual results could differ materially from those indicated by these forward-looking statements due to various important factors, including the factors discussed in the section entitled "Risk Factors" in Bitdeer's Annual Report on Form 20-F, as well as the discussions of potential risks, uncertainties and other important factors in Bitdeer's filings and filings with the Securities and Exchange Commission. The forward-looking statements contained in this press release speak only as of the date of publication. Bitdeer expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Readers should not rely on any information on this site as current or accurate after the date of publication.
Source@Premier Smith
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