Bitdeer Expands Power Capacity Pipeline to 2.5 GW with 570 MW Strategic Partnership with Monroe County Port Authority in Ohio
28 June 2024 - 10:00PM
Bitdeer Technologies Group (Nasdaq: BTDR) (“Bitdeer” or the
“Company”), a world-leading technology company for blockchain and
high-performance computing, is pleased to announce that the Company
has entered into a lease agreement with the Monroe County Port
Authority (MCPA) to secure up to 570 MW of additional power
capacity. This strategic partnership significantly increases
Bitdeer’s total capacity to 2.5 GW globally and strengthens
Bitdeer’s infrastructure development pipeline for Bitcoin mining
and high-performance computing (HPC) and AI.
Under this agreement, Bitdeer has leased land for 30 years at
the Monroe County Port Authority-owned Hannibal Industrial Park in
Clarington, Ohio USA, which previously served as an aluminum
processing facility. This site benefits from existing power
infrastructure, utility switchyards and transmission capable of
supporting hyperscale loads. Of the total 570 MW of power capacity
contemplated under this agreement, the initial 266 MW is expected
to be available in Q3 2025, with the remaining 304 MW currently
under review to be formally incorporated into the regional
transmission planning process.
"We are excited about the prospects this expansion brings to
Bitdeer and our stakeholders. The strategic location of the
Hannibal Industrial Park, combined with its ready-to-use
infrastructure, significantly expands our existing power capacity
and supports our growth ambitions in Bitcoin mining and HPC and
AI," said Linghui Kong, Chief Business Officer at Bitdeer.
Bitdeer remains committed to its role as a pioneer in the
accelerated computing and technology industry, continuously seeking
opportunities to improve and expand its operational capabilities to
better serve its customers and partners worldwide.
About Bitdeer Technologies GroupBitdeer is a
world-leading technology company for blockchain and
high-performance computing. Bitdeer is committed to providing
comprehensive computing solutions for its customers. The Company
handles complex processes involved in computing such as equipment
procurement, transport logistics, datacenter design and
construction, equipment management, and daily operations. The
Company also offers advanced cloud capabilities to customers with
high demand for artificial intelligence. Headquartered in
Singapore, Bitdeer has deployed datacenters in the United States,
Norway, and Bhutan. To learn more, visit https://ir.bitdeer.com or
follow Bitdeer on X @BitdeerOfficial and LinkedIn @ Bitdeer
Group.
Investors and others should note that Bitdeer may announce
material information using its website and/or on its accounts on
social media platforms, including X, formerly known as Twitter,
Facebook, and LinkedIn. Therefore, Bitdeer encourages investors and
others to review the information it posts on the social media and
other communication channels listed on its website.
Forward-Looking StatementsStatements in this
press release about future expectations, plans, and prospects, as
well as any other statements regarding matters that are not
historical facts, may constitute “forward-looking statements”
within the meaning of The Private Securities Litigation Reform Act
of 1995. The words “anticipate,” “look forward to,” “believe,”
“continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,”
“potential,” “predict,” “project,” “should,” “target,” “will,”
“would” and similar expressions are intended to identify
forward-looking statements, although not all forward-looking
statements contain these identifying words. Actual results may
differ materially from those indicated by such forward-looking
statements as a result of various important factors, including
factors discussed in the section entitled “Risk Factors” in
Bitdeer’s annual report on Form 20-F, as well as discussions of
potential risks, uncertainties, and other important factors in
Bitdeer’s subsequent filings with the U.S. Securities and
Exchange Commission. Any forward-looking statements contained in
this press release speak only as of the date hereof. Bitdeer
specifically disclaims any obligation to update any forward-looking
statement, whether due to new information, future events, or
otherwise. Readers should not rely upon the information on this
page as current or accurate after its publication date.
For investor and media inquiries, please
contact:
Investor RelationsOrange GroupYujia
ZhaiBitdeerIR@orangegroupadvisors.com
Public RelationsWachsmanBee ShinBitdeer@wachsman.com
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