As a seasoned crypto investor with a keen interest in Bitcoin mining, I’m thrilled about Bitdeer’s latest announcement. This 30-year lease agreement with the Monroe County Port Authority is a significant step forward for the company. The existing power infrastructure and utility switchyards at the Hannibal Industrial Park in Ohio are perfect for supporting hyperscale loads, making it an ideal location for Bitdeer’s Bitcoin mining processing and high-performance computing (HPC) for artificial intelligence (AI).
Bitdeer obtained a 30-year rental agreement for property situated at the Hannibal Industrial Park, which is managed by the Monroe County Port Authority in Ohio.
Chinese businessman Jihan Wu established Bitdeer, a Bitcoin mining firm, in 2020. Recently, Bitdeer signed a 30-year contract with the Monroe County Port Authority to access as much as 570 MW of extra power capacity at the Hannibal Industrial Park in Clarington, Ohio.
As a crypto investor, I’d interpret this news in the following way: Bitdeer didn’t reveal specific financial details, but they mentioned that the new site used to be an aluminum processing facility. This is advantageous for Bitdeer since it already comes with robust power infrastructure, utility switchyards, and transmission lines capable of handling large-scale Bitcoin mining operations and high-performance computing (HPC) requirements for artificial intelligence. Essentially, this acquisition will significantly enhance Bitdeer’s Bitcoin mining capabilities and AI processing power.
Approximately 266 MW of the total 570 MW power capacity is projected to become available no later than Q3 2025, while the remaining 304 MW is currently under evaluation to be added to the regional grid planning.
Linghui Kong, Bitdeer’s chief business officer, expressed that the new location will notably increase our current power capacity. Furthermore, our collaboration with the Monroe County Port Authority aligns with our aspirations to expand in Bitcoin mining, as well as high-performance computing and artificial intelligence.
According to Nasdaq’s data, Bitdeer’s shares (BTDR) experienced a 3.37% increase in early stock market trading, reaching a price of $10.11.
A month after the leading stablecoin issuer Tether announced a deal to buy up to $150 million in Bitdeer shares, the company declared in a May 31 press release that the funds would be utilized for expanding data centers, developing ASIC mining rigs, and addressing working capital and other corporate needs.
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2024-06-28 16:24