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Bitcoin miner Bitdeer to launch 570 MW power facility in Ohio

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Bitdeer has secured a 30-year lease for land on the Monroe County Port Authority-owned Hannibal Industrial Park in Ohio.

Bitcoin mining firm Bitdeer, based by Chinese language billionaire Jihan Wu in 2020, has entered right into a 30-year lease settlement with the Monroe County Port Authority to safe as much as 570 MW of extra energy capability on the Hannibal Industrial Park in Clarington, Ohio.

Monetary phrases weren’t disclosed, however Bitdeer famous that the positioning beforehand served as an “aluminum processing facility.” Bitdeer will profit from present “energy infrastructure, utility switchyards and transmission able to supporting hyperscale hundreds.” The positioning is predicted to spice up the agency’s Bitcoin mining processing and high-performance computing (HPC) for synthetic intelligence (AI)

Of the full 570 MW of energy capability, the preliminary 266 MW is predicted to be out there no sooner than Q3 2025, whereas the remaining 304 MW continues to be “beneath evaluate to be formally integrated into the regional transmission planning course of.”

You may additionally like: Bitdeer completes its Bhutan mining facility

Bitdeer’s chief enterprise officer Linghui Kong says the placement “considerably expands our present energy capability” including that the partnership with the Monroe County Port Authority “helps our development ambitions in Bitcoin mining and HPC and AI.”

Following the information, Bitdeer’s shares (BTDR) gained 3.37% in pre-market buying and selling, hovering to $10.11, in response to information from Nasdaq.

The deal comes only a month after the most important stablecoin issuer by market capitalization Tether agreed to buy as much as $150 million price of shares in Bitdeer. In a Might 31 press launch, Bitdeer mentioned the proceeds could be used to “fund its information heart growth, ASIC based mostly mining rig growth and for working capital and different basic company functions.”

Learn extra: Jihan Wu’s Bitcoin mining agency Bitdeer companions with NVIDIA

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