Bitdeer Technologies Group, a global leader in blockchain and high-performance computing, has completed the acquisition of a 101 MW site and gas-fired power project near Fox Creek, Alberta. The all-cash transaction, valued at $21.7 million, marks Bitdeer’s first venture in Canada and positions Alberta as a key player in the Bitcoin mining sector.
The 19-acre site comes with all necessary permits to construct a natural gas power plant and approval for a 99 MW grid interconnection with the Alberta Electric System Operator (AESO). Bitdeer will partner with an Engineering, Procurement, and Construction (EPC) firm to develop the facility, which is expected to be operational by Q4 2026.
In parallel, Bitdeer plans to build a 99 MW data center dedicated to Bitcoin mining, making the company the world’s first fully vertically integrated Bitcoin miner. The site’s scalability—potentially reaching 1 GW of power—leverages Alberta’s energy resources and regulatory support.
By integrating power generation with its proprietary SEALMINER A3 mining machines, Bitdeer aims to achieve industry-leading energy efficiency. The site is projected to produce power at $20–$25 per MWh, benefiting from Alberta’s natural gas prices.
Additionally, the project will deploy a carbon utilization system to capture CO2 emissions, making it a net-zero carbon producer. This initiative could generate future revenue through carbon credits while offsetting Canada’s carbon tax obligations.
Alberta Premier Danielle Smith welcomed the investment, highlighting the province’s appeal to technology innovators. “We are pleased to welcome the world’s first net-zero, fully integrated off-grid Bitcoin mining facility right here in Alberta. This investment reaffirms Alberta’s leadership in technology and innovation.”
Site preparation and infrastructure development will begin in Q2 2025, with full operations expected by late 2026.
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