Bitcoin mining company Bitdeer said it entered a 30-year lease agreement to secure 570 MW of additional power from the Monroe County Port Authority from a site located at the Hannibal Industrial Park in Clarington, Ohio.
This strategic partnership will increase Bitdeer’s total available capacity to 2.5 GWs worldwide and strengthen its infrastructure development pipeline for Bitcoin mining, high-performance computing, and AI, the company said in a news release.
Hannibal Industrial Park previously served as an aluminium processing facility, so the site benefits from existing power infrastructure, utility switchyards and transmission capable of supporting hyperscale loads.
“We are excited about the prospects this expansion brings to Bitdeer and our stakeholders,” said Linghui Kong, chief business officer at Bitdeer. “The strategic location of the Hannibal Industrial Park, combined with its ready-to-use infrastructure, significantly expands our existing power capacity and supports our growth ambitions in Bitcoin mining and HPC and AI.”
An initial 266 MW is expected to be available in the third quarter of next year, with the remaining 304 MW under review to be formally incorporated 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 buy another $50 million in shares within 12 months after closing.
Paolo Ardoino, CEO of Tether, said: “We regard Bitdeer as one of the strongest vertically integrated operators in the Bitcoin mining industry, differentiated by its cutting-edge technologies and a robust R&D organisation.”
Bitdeer’s founder and CEO is Chinese crypto billionaire Jihan Wu, who in 2013 co-founded Bitmain, which has become the world’s biggest computer chip company for Bitcoin mining.
Headquartered in Singapore, Bitdeer has deployed data centres in the US, Norway, and Bhutan.