Bitcoin
Bitcoin miner Bitdeer to launch 570 MW power plant in Ohio
Bitdeer has secured a 30-year lease for land in the Hannibal Industrial Park, owned by the Monroe County Port Authority in Ohio.
Bitcoin mining company Bitdeer, founded by Chinese billionaire Jihan Wu in 2020, it entered into a 30-year lease with the Monroe County Port Authority to secure up to 570 MW of additional power capacity at the Hannibal Industrial Park in Clarington, Ohio.
Financial terms were not disclosed, but Bitdeer noted that the site previously served as an “aluminum processing facility.” Bitdeer will benefit from “existing power infrastructure, utility switchgear, and transmission capable of supporting hyperscale loads.” The site is expected to boost the company’s Bitcoin mining processing and high-performance computing (HPC) for artificial intelligence (AI)
Of the total 570 MW of power capacity, the initial 266 MW is expected to be available no earlier than the third quarter of 2025, while the remaining 304 MW is still “under review to be formally incorporated into the regional transmission planning process.” .
Bitdeer Chief Business Officer Linghui Kong says the site “significantly expands our existing power capacity,” adding that the partnership with the Monroe County Port Authority “supports our growth ambitions in Bitcoin mining, HPC and AI ”.
Following the news, Bitdeer (BTDR) shares gained 3.37% in pre-market trading, rising to $10.11, according to data from Nasdaq.
The deal comes just a month after the largest stablecoin issuer by market cap Tether agreed to buy up to $150 million in Bitdeer stock. On May 31 Press releaseBitdeer said the proceeds would be used to “fund the expansion of its data center, the development of ASIC-based mining rigs, and for working capital and other general corporate purposes.”