Fintech
Bitcoin miner Bitdeer leases site in Ohio to expand energy capacity – DL News
- Singapore-based Bitcoin mining company leases site in Ohio.
- The site was previously used as an aluminum processing plant.
- Bitdeer’s total available energy capacity will increase to 2.5 GW worldwide
Bitcoin mining firm Bitdeer said it has entered into a 30-year lease agreement to secure 570 MW of additional power from the Monroe County Port Authority from a site in the Hannibal Industrial Park in Clarington, Ohio.
This strategic partnership will increase Bitdeer’s total available capacity to 2.5 GW worldwide and strengthen its infrastructure development pipeline for Bitcoin mining, high-performance computing and artificial intelligence, the company said in a Press release.
Hannibal Industrial Park was previously an aluminum processing plant, so the site benefits from existing electrical infrastructure, switching yards and transmission capable of supporting large-scale loads.
“We are excited about the prospects this expansion brings to Bitdeer and our stakeholders,” said Linghui Kong, Chief Business Officer of Bitdeer. “The strategic location of Hannibal Industrial Park, combined with its ready-to-use infrastructure, significantly expands our existing energy capacity and supports our growth ambitions in Bitcoin, HPC and AI mining.”
The first 266 MW is expected to be available in the third quarter of next year, with the remaining 304 MW under review for formal incorporation into the regional transmission planning process.
Earlier this month, DL News reported that stablecoin issuer Tether Holdings had acquired a $100 million stake in Bitdeer, with an option to purchase an additional $50 million in shares within 12 months of closing.
Paolo Ardoino, CEO of Tether, said: “We consider Bitdeer to be one of the strongest vertically integrated operators in the Bitcoin mining sector, differentiated by its cutting-edge technologies and a strong research and development organization.”
Bitdeer’s founder and CEO is Chinese cryptocurrency billionaire Jihan Wu, who in 2013 co-founded Bitmain, which has become the world’s largest computer chip company for Bitcoin mining.
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Headquartered in Singapore, Bitdeer has deployed data centers in the United States, Norway, and Bhutan.