Mining company Bitdeer said it has acquired a 101-megawatt power plant and power generation project for $21,7 million. Both facilities are located in Alberta.
According to Bitdeer, the miner will work with Canadian EPC company to design and build the gas-fired power plant by the end of 2026.
Bitdeer Chief Strategy Officer Haris Basit said the deal was the company's first acquisition Bitcoin -miner in Canada. The company previously acquired sites in the United States, Bhutan and Norway.
This is an important step in our strategy to become the first fully vertically integrated Bitcoin miner, giving us unprecedented control over costs, energy efficiency and scalability,” Basit said in a statement.
Bitdeer is a Singapore-based cryptocurrency cloud mining company that went public on the Nasdaq in April 2023 via a secondary listing after completing a $1,18 billion merger with Blue Safari Acquisition.
Despite its global expansion and acquisition of a Canadian company, Bitdeer shares continue to fall. They have fallen 27,5% in the last month. Yesterday, they fell 4,95%, while other miner shares, CleanSpark, Riot Platforms, and Terawulf, are rising.
