Bitcoin miner Bitdeer introduced a 570 MW strategic partnership with the Monroe County Port Authority in Ohio to extend its vitality capability, in keeping with an announcement dated 28 fromcrypto.
Underneath the settlement, Bitdeer will lease land within the Hannibal County Industrial Park in Clarington for 30 years. It’s a former aluminum processing facility with vitality infrastructure to assist massive hundreds.
The miner's shares rose 5% on the information and had been buying and selling at $10.26 at press time.
Mining development
The agency stated the partnership would enhance its capability by 570 MW, bringing its complete complete to 2.5 GW. The rise will strengthen the corporate's Bitcoin mining, high-performance computing (HPC) and synthetic intelligence (AI) capability.
The 570 MW capability can be delivered in two phases from subsequent 12 months. The primary section, delivering 266 MW, is predicted within the third quarter of 2025, whereas the remaining 304 MW is being reviewed for regional transmission planning.
Linghui Kong, Bitdeer's Chief Business Officer, expressed his enthusiasm for the enlargement. Kong stated:
“Hannibal Industrial Park's strategic location, mixed with its turnkey infrastructure, considerably expands our present energy capability and helps our development ambitions in Bitcoin mining and HPC and AI.”
Notably, this transfer follows the current closing of Tether's $150 million personal placement by Bitdeer. The transaction included US$100 million with an possibility for an extra US$50 million if the warrant is exercised in full.
Bitdeer's transfer comes amid an ongoing miner capitulation fueled by a falling bitcoin worth, a falling hashrate and a modest hashrate.
Due to this, a number of miners have elevated efforts to diversify their earnings by participating in varied actions, together with offering infrastructure for AI corporations in addition to mining altcoins equivalent to Kaspa. Moreover, the difficult surroundings has led to some miners buying rivals.
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