ARIA | News

Canada Welcomes Bitdeer's $21 Million Bitcoin Mining Power Plant Development

by aria-crypto.com

February 5, 2025 at 14:58

Canada Welcomes Bitdeer's $21 Million Bitcoin Mining Power Plant Development

Bitcoin mining company Bitdeer has invested $21.7 million to secure a 101-megawatt site in Alberta, Canada, intended for a new bitcoin mining data center. This acquisition signals Bitdeer's commitment to expand its mining capacities through an integrated approach, combining natural gas power generation with bitcoin mining operations. The site, approved by the Alberta Electric System Operator, will feature a natural gas power plant and a 99-megawatt data center. Construction is set to commence in the second quarter of 2025, with the facility expected to be fully operational by the end of 2026. The project will involve a substantial capital investment totaling $120 million, covering both the power plant and the data center. Bitdeer aims to enhance its market standing by becoming the first bitcoin mining entity to manage both power generation and mining operations internally, controlling a significant amount of hashing power in the process. This strategic expansion is poised to boost Bitdeer’s long-term growth and efficiency in the competitive bitcoin mining industry.

Disclaimer

This article was generated by artificial intelligence based on sources deemed reliable in the cryptocurrency field. While ARIA strives to provide accurate and up-to-date information, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability of the information contained herein. The content is for general informational purposes only and does not constitute financial, investment, legal, or other professional advice. Any reliance you place on such information is strictly at your own risk. ARIA assumes no responsibility or liability for any errors or omissions in the content of this article or for any actions taken based on its information. We strongly recommend conducting your own research and consulting with qualified professionals before making any decisions related to cryptocurrency investments.

>> EU Welcomes BlackRock's New Bitcoin ETP as Bloomberg Highlights Expansion

BlackRock is set to broaden its cryptocurrency reach by introducing a new Bitcoin exchange-traded product (ETP) in Europe, as reported by Bloomberg. This strategic move into the European market marks BlackRock'...

an hour ago

>> SEC Reallocates Key Crypto Litigator and Launches Task Force to Refine Crypto Regulations

The U.S. Securities and Exchange Commission (SEC) has recently undertaken significant shifts in its approach to cryptocurrency regulation. Jorge Tenreiro, a prominent litigation attorney within the SEC, has bee...

an hour ago

>> Crypto Conquest: TRON Outpaces Visa in Stablecoin Transactions

The migration of financial activities onto blockchain technologies marks a notable pivot in the transactional landscape, with TRON leading this shift. Recently, the TRON network has surged forward, surpassing V...

5 hours ago

>> SEC Awaits New Chair: Solana and XRP Could See ETF Clarity

With Donald Trump's presidency ushering in new SEC leadership, the cryptocurrency sector may experience significant changes soon. Trump's pick, Paul Atkins, is set to take over the SEC, pending Senate approval....

5 hours ago

>> Bybit Navigates Regulatory Hurdles with FIU Approval to Reinforce Presence in India

Bybit, a prominent global cryptocurrency exchange, has intensified its efforts to strengthen its operations in India by obtaining registration from the Financial Intelligence Unit (FIU). This crucial developmen...

6 hours ago

>> Bitcoin Acquisitions Surge: MicroStrategy Pauses While Semler Scientific Expands Holdings

In recent developments within the crypto treasury space, Semler Scientific has significantly increased its Bitcoin (BTC) portfolio by acquiring an additional 871 BTC, totaling around $88.5 million at a price of...

7 hours ago

>> US Crypto Regulation Sees Promising Changes with Ripple's Involvement

Ripple's CEO, Brad Garlinghouse, has expressed enthusiasm over recent advancements in U.S. crypto regulations, influenced by the support from significant lawmakers and the guidance of David Sacks, the U.S. Cryp...

7 hours ago

>> UAE Partners with Shiba Inu to Revolutionize Government Services with Blockchain Technology

The United Arab Emirates (UAE) has formed a strategic partnership with the Shiba Inu (SHIB) ecosystem to integrate blockchain technology across various government sectors, marking a significant step in global c...

8 hours ago

>> Bullish Global Eyes Public Debut in 2025 Amidst Crypto Market Surge: A Bloomberg Insight

Crypto exchange Bullish Global is reportedly planning an initial public offering for as early as 2025, as per Bloomberg sources. The move aligns with the surge in cryptocurrency valuations following recent poli...

9 hours ago

All the latest crypto news in one place

Stay informed and up-to-date on the market's latest news with our Terminal's News Aggregator with curated news articles and analysis from over 50 sources, including the crypto's biggest publications.

Launch Terminal