Bitdeer Expands with New 30-Year Lease in Ohio

Bitdeer Expands Operations with 30-Year Lease in Ohio
Bitdeer, a leading player in the cryptocurrency mining industry, has announced a substantial expansion by signing a 30-year lease agreement with the Monroe County Port Authority. This deal secures an additional 570MW for Bitdeer from the Hannibal Industrial Park in Clarington, Ohio, bolstering its global capacity to 2.5GW. The site, a former aluminum processing factory, offers existing power distribution networks crucial for Bitdeer’s operations.
Linghui Kong, Bitdeer’s Chief Business Officer, highlighted the strategic advantages of the location, which will enhance efficiency in Bitcoin mining, High-Performance Computing, and Artificial Intelligence. Bitdeer aims to achieve a generation capacity of 266MW by the third quarter of next year, with plans to integrate the remaining 304MW into the local transmission planning process.
The expansion follows significant financial backing, including a $100 million investment from Tether Holdings, with an option to purchase an additional $50 million in stocks. Tether’s CEO, Paolo Ardoino, praised Bitdeer’s technological advancements and research capabilities.
Founded by Chinese billionaire Jihan Wu, Bitdeer operates data centers in the USA, Norway, and Bhutan, with headquarters in Singapore. This expansion into Ohio solidifies Bitdeer’s leadership in the cryptocurrency mining industry and underscores its ongoing growth and sustainability in the evolving digital currency market.