Bitdeer plans to gain 570 MW of power capacity for bitcoin mining by leasing industrial park
Quick Take
- Bitcoin mining firm Bitdeer Technologies Group expects to gain 570 MW of power capacity that could grow its mining operations by leasing an industrial park in Ohio.
- The firm announced on Friday it entered into a 30-year lease for the industrial site with the Monroe County Port Authority.
Bitcoin mining firm Bitdeer Technologies is in the process of acquiring nearly 600 megawatts (MW) of additional power capacity to grow its bitcoin mining capabilities and other activities.
The mining operation said Friday it expects to secure up to 570 MW of power capacity by entering a lease for an Ohio-based industrial park equipped with an advanced power infrastructure. The 30-year agreement will increase Bitdeer’s total power capacity to 2.5 GW globally, in addition to strengthening the company’s infrastructure development pipeline for Bitcoin mining and other facets of its operations, the company said.
“The strategic location of the Hannibal Industrial Park, combined with its ready-to-use infrastructure, significantly expands our existing power capacity and supports our growth ambitions in Bitcoin mining and HPC and AI," Bitdeer Chief Business Officer Linghui Kong said Friday.
The mining firm expects to gradually acquire the additional 570 MW of power capacity over the next year or so. Of that 570 MW, 266 MW are expected to become available to the miner in the second half of 2025. The other 304 MW is "currently under review to be formally incorporated into the regional transmission planning process."
Mining a single bitcoin requires roughly 260 megawatt hours [MWh], including cooling for server farms, according to an estimate cited by the University of British Columbia.
Bitdeer's stock (ticker BTDR) was trading at $10.26 at publication time, up roughly 5% in Friday's session.
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