Bitcoin miner Bitdeer has introduced a 570 MW strategic partnership with the Monroe County Port Authority in Ohio to spice up its energy capability, in keeping with a June 28 assertion shared with CryptoSlate.
Beneath this association, Bitdeer will lease the land in the county’s Hannibal Industrial Park in Clarington for 30 years. The positioning is a former aluminum processing facility with energy infrastructure to help massive masses.
The miner’s stock rose 5% on the information and was buying and selling at $10.26 as of press time.
Mining progress
The agency said that the partnership will add 570 MW to its capability pipeline, elevating its international complete to 2.5 GWs. This improve will improve the corporate’s capability for Bitcoin mining, Excessive-Efficiency Computing (HPC), and Synthetic Intelligence (AI).
The 570 MW capability will probably be delivered in two phases, beginning subsequent yr. The primary part, delivering 266 MW, is predicted in the third quarter of 2025, whereas the remaining 304 MW is beneath assessment for regional transmission planning.
Linghui Kong, Bitdeer’s Chief Enterprise Officer, expressed enthusiasm for the expansion. Kong stated:
“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.”
Notably, the transfer follows Bitdeer’s latest closure of a $150 million personal placement financing with Tether. The transaction included $100 million with a chance of an extra $50 million if the warrant is totally exercised.
Bitdeer’s transfer comes amid the continuing miner capitulation, pushed by a falling Bitcoin value, declining hash price, and a meager hash value.
Attributable to this, a number of miners have stepped up efforts to diversify their income streams by partaking in totally different actions, together with offering infrastructures for synthetic intelligence corporations and in addition mining altcoins like Kaspa. Moreover, the difficult surroundings has led to some miners buying rivals.
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