3 months ago
Bitcoin miner Bitdeer has announced a 570 MW strategical concern with the Monroe County Port Authority successful Ohio to boost its powerfulness capacity, according to a June 28 connection shared with CryptoSlate.
Under this arrangement, Bitdeer volition lease the onshore successful the county’s Hannibal Industrial Park successful Clarington for 30 years. The tract is simply a erstwhile aluminum processing installation with powerfulness infrastructure to enactment ample loads.
The miner’s banal roseate 5% connected the quality and was trading astatine $10.26 arsenic of property time.
Mining growth
The steadfast stated that the concern volition adhd 570 MW to its capableness pipeline, raising its planetary full to 2.5 GWs. This summation volition heighten the company’s capableness for Bitcoin mining, High-Performance Computing (HPC), and Artificial Intelligence (AI).
The 570 MW capableness volition beryllium delivered successful 2 phases, starting adjacent year. The archetypal phase, delivering 266 MW, is expected successful the 3rd 4th of 2025, portion the remaining 304 MW is nether reappraisal for determination transmission planning.
Linghui Kong, Bitdeer’s Chief Business Officer, expressed enthusiasm for the expansion. Kong said:
“The strategical determination of the Hannibal Industrial Park, combined with its ready-to-use infrastructure, importantly expands our existing powerfulness capableness and supports our maturation ambitions successful Bitcoin mining and HPC and AI.”
Notably, the determination follows Bitdeer’s caller closure of a $150 million backstage placement financing with Tether. The transaction included $100 cardinal with a anticipation of an further $50 cardinal if the warrant is afloat exercised.
Bitdeer’s determination comes amid the ongoing miner capitulation, driven by a falling Bitcoin price, declining hash rate, and a meager hash price.
Due to this, respective miners person stepped up efforts to diversify their gross streams by engaging successful antithetic activities, including providing infrastructures for artificial quality firms and besides mining altcoins similar Kaspa. Additionally, the challenging situation has led to immoderate miners acquiring rivals.
The station Bitdeer’s banal climbs aft revealing 570 MW enlargement successful Ohio appeared archetypal connected CryptoSlate.
English (US) 