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 accordance with a June 28 assertion shared with CryptoSlate.
Below this association, Bitdeer will lease the land within the county’s Hannibal Industrial Park in Clarington for 30 years. The positioning is a former aluminum processing facility with energy infrastructure to assist giant hundreds.
The miner’s inventory rose 5% on the information and was buying and selling at $10.26 as of press time.
Mining progress
The agency acknowledged that the partnership will add 570 MW to its capability pipeline, elevating its international complete to 2.5 GWs. This enhance will improve the corporate’s capability for Bitcoin mining, Excessive-Efficiency Computing (HPC), and Synthetic Intelligence (AI).
The 570 MW capability shall be delivered in two phases, beginning subsequent 12 months. The primary part, delivering 266 MW, is anticipated within the third quarter of 2025, whereas the remaining 304 MW is beneath evaluation for regional transmission planning.
Linghui Kong, Bitdeer’s Chief Enterprise Officer, expressed enthusiasm for the enlargement. Kong mentioned:
“The strategic location of the Hannibal Industrial Park, mixed with its ready-to-use infrastructure, considerably expands our present energy capability and helps our progress ambitions in Bitcoin mining and HPC and AI.”
Notably, the transfer follows Bitdeer’s current closure of a $150 million non-public placement financing with Tether. The transaction included $100 million with a risk of a further $50 million if the warrant is absolutely exercised.
Bitdeer’s transfer comes amid the continuing miner capitulation, pushed by a falling Bitcoin worth, declining hash fee, and a meager hash worth.
As a result of this, a number of miners have stepped up efforts to diversify their income streams by partaking in several actions, together with offering infrastructures for synthetic intelligence corporations and likewise mining altcoins like Kaspa. Moreover, the difficult atmosphere has led to some miners buying rivals.
