Mentioned:
BTDR -4.76% HIVE -1.22%
Bitdeer Technologies is pouring more than a hundred million dollars into a new project in Alberta, Canada. But, why?
What’s happening:
- Bitdeer Technologies (NASDAQ: BTDR) has officially started construction of a new data centre located near Fox Creek, Alberta
By the numbers:
- Bitdeer Technologies is investing $155M USD to develop the new data centre
Why it matters:
- This is the first time ever that Bitdeer Technologies has funded the construction of a data centre located in Canada
Going deeper:
- Bitdeer Technologies has publicly stated their new data centre in Alberta is backed by a fully licensed 101 megawatts of natural gas project and has approval for a 99 megawatt interconnection to Alberta’s electric grid
- Bitdeer Technologies will initially use their new data centre to power Bitcoin mining and will use next generation technology to capture carbon emissions alongside a closed-loop water cooling system to reduce the impact on local rivers and lakes compared to traditional evaporative cooling towers
The intrigue:
- Bitcoin mining companies have been rapidly ramping up their data centre capacity within Canada lately, including HIVE Digital Technologies (NASDAQ: HIVE) just recently committing to build a 320 megawatt data centre located in the Greater Toronto Area
