Bitcoin mining company Bitdeer has procured a 101-MW gas-fired power plant located near Fox Creek, Alberta, with the aim of fostering a “vertically integrated” Bitcoin mining venture.

“We are really excited about planting roots in Alberta, our first site in Canada. This acquisition is the culmination of extensive collaboration with multiple government agencies and the Canadian Blockchain Consortium,” Haris Basit, chief strategy officer at Bitdeer, stated in a press release. “It marks a significant step in our strategy to become the first fully-vertically integrated Bitcoin miner, giving us unmatched control over costs, energy efficiency, and scalability.”

Bitdeer plans to develop a 99 MW datacenter at the location, with a potential to scale up to 1 GW. The anticipated energy production costs at the facility will range from $20 to $25 per MW/h.

The plant is also equipped with a license for a 99 MW interconnect to the local grid, allowing Bitdeer to sell power back to the Alberta grid to stabilize prices during peak demand periods.

“By combining our own power generation, SEALMINER mining machines and opportunistic grid participation, we believe this site will set a new benchmark for industry unit economics,” Basit indicated.

Preparations for the site and initial infrastructure development are slated to commence in Q2 2025, with plans to have operations fully operational by Q4 2026.