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Bitdeer’s stock climbs after revealing 570 MW expansion in Ohio

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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 response to a June 28 assertion shared with coinagebuzz.

Beneath 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 help massive masses.

The miner’s inventory rose 5% on the information and was buying and selling at $10.26 as of press time.

Mining development

The agency said that the partnership will add 570 MW to its capability pipeline, elevating its international whole 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 might be delivered in two phases, beginning subsequent yr. The primary section, delivering 266 MW, is anticipated within the third quarter of 2025, whereas the remaining 304 MW is below evaluate for regional transmission planning.

Linghui Kong, Bitdeer’s Chief Enterprise Officer, expressed enthusiasm for the growth. Kong mentioned:

“The strategic location of the Hannibal Industrial Park, mixed with its ready-to-use infrastructure, considerably expands our current energy capability and helps our development 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 value, declining hash price, and a meager hash value.

As a result of this, a number of miners have stepped up efforts to diversify their income streams by participating in numerous actions, together with offering infrastructures for synthetic intelligence companies and likewise mining altcoins like Kaspa. Moreover, the difficult atmosphere has led to some miners buying rivals.

The publish Bitdeer’s inventory climbs after revealing 570 MW growth in Ohio appeared first on coinagebuzz.

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