🌎 Bitdeer Secures 30-Year Lease for Ohio Bitcoin Mining Expansion

Bitdeer has secured a 30-year lease for land at the Monroe County Port Authority-owned Hannibal Industrial Park in Ohio. The Bitcoin mining company, founded by Chinese billionaire Jihan Wu in 2020, aims to secure up to 570 MW of additional power capacity at the Hannibal Industrial Park in Clarington, Ohio.

While the financial terms of the deal were not disclosed, Bitdeer noted that the site was previously used as an “aluminum processing facility.” The site offers existing power infrastructure, utility switchyards, and transmission capabilities suitable for supporting hyperscale loads. This development is expected to enhance the firm’s Bitcoin mining processing and high-performance computing (HPC) for artificial intelligence (AI).

Of the total 570 MW of power capacity, the initial 266 MW is anticipated to be available by Q3 2025, while the remaining 304 MW is still under review to be formally incorporated into the regional transmission planning process.

Bitdeer’s Expansion Plans

Bitdeer’s chief business officer, Linghui Kong, highlighted that the new location significantly expands their existing power capacity. He added that the partnership with the Monroe County Port Authority aligns with Bitdeer’s growth ambitions in Bitcoin mining, HPC, and AI.

Following this announcement, Bitdeer’s shares (BTDR) saw a 3.37% increase in pre-market trading, reaching $10.11.

This deal follows a recent agreement by Tether, the largest stablecoin issuer by market capitalization, to purchase up to $150 million worth of shares in Bitdeer. According to a May 31 statement from Bitdeer, the proceeds from this investment will be used to fund data center expansion, ASIC-based mining rig development, and for working capital and other general corporate purposes.