Bitdeer to Scale up Bitcoin Mining Power in Ohio

U.S.-listed bitcoin mining and data center operator Bitdeer (NASDAQ: BTDR) plans to expand its power footprint in Ohio by leasing a facility previously used for aluminum processing.

On Friday, Bitdeer announced it has entered into a lease agreement with the Monroe County Port Authority (MCPA) to secure up to 570 megawatts (MW) of power capacity. The agreement allows Bitdeer to lease land for 30 years at the Hannibal Industrial Park in Clarington, Ohio, which the MCPA owns.

“This site benefits from existing power infrastructure, utility switchyards, and transmission capable of supporting hyperscale loads,” Bitdeer stated in the release.

According to the roadmap, Bitdeer expects the initial 266 MW of the Monroe County site to be online in Q3 2025, with the remaining 304 MW “currently under review to be formally incorporated into the regional transmission planning process.”

This appears to be Bitdeer’s second project in Ohio. It has begun land preparation for constructing another site in Stark County since April with a power capacity of 221 MW that is expected to be completed in 2025, according to its 2023 annual report.

As of Feb. 29, Bitdeer had an operational power capacity of 895 MW across Bhutan, Norway, and the U.S. Additionally, it had another 575 MW under construction and an additional 500 MW “in the pipeline.” This totaled 1.97 gigawatts of power capacity. Bitdeer claimed that the new lease in Monroe County has increased its total power capacity to over 2.6 gigawatts.