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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Base claims top 3 spot in 30-day NFT volume: DappRadar

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    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

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    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Enhancing Security in Online Gambling with Blockchain Technology

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    How to Play Treeverse: Beginner’s Guide to Gameplay, NFTs, and Tokenomics

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    Intellivix Targets Global AI Surveillance Market with ‘False Alarm Elimination’ Gen AMS

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    The Future of Gambling: How Casino Sites Are Leveraging Web3

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    The most potentially profitable investment method in 2025 is through PairMiner crypto cloud mining, earning passive income daily.

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    GameFi Q1 2025 Report: User Growth, Chain Activity, and Revenue Trends

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    Brain-Computer Interface Market Value, Trends, and Demand Insights | Scope By 2032

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    floor down up to 18% in the last week (week ended August 26, 2023), volumes still robust

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    Ethereum Rules With $56.57M Sales, Solana and Polygon Compete

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    KuCoin Pay Joins Forces with 2Game Digital to Drive Web3 in Gaming

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    Stability World AI Adds Games to Transform the Future of Web3 Gaming

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    Avalanche Selects Funtico to Support Indie Game Developers

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    Google Boosts Gemini AI Image Capabilities in Latest Salvo Against ChatGPT

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    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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    MetaMask Users Can Now Link Binance and OKX Accounts to Their Portfolio Dashboard

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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    SoonVerse Partners with Arris to Enhance User Experience

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    ETH Daddy Discusses Ethereum and AI

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    What Is Impermanent Loss? How It Works, and How to Avoid It

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

    What Is an Algorithmic Stablecoin? How It Works and Why It Matters

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    Bitcoin Sees Historic Rise in Shark and Whale BTC Wallets, Records New High: Santiment

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    Solana, XRP and One Ethereum Rival Leading Institutional Inflows in 2023: CoinShares Data

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

    Estate of Bankrupt Crypto Exchange FTX Abruptly Stakes Over $144 Million in Solana (SOL)

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    The #1 CopyTrading Exchange-Bitget Turns 5, $100 Bonus for Newcomers

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Home Mining

Bitdeer’s stock climbs after revealing 570 MW expansion in Ohio

June 28, 2024
in Mining
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Bitdeer’s stock climbs after revealing 570 MW expansion in Ohio
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Bitcoin miner Bitdeer has announced a 570 MW strategic partnership with the Monroe County Port Authority in Ohio to boost its power capacity, according to a June 28 statement shared with CryptoSlate.

READ ALSO

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Under this arrangement, Bitdeer will lease the land in the county’s Hannibal Industrial Park in Clarington for 30 years. The site is a former aluminum processing facility with power infrastructure to support large loads.

The miner’s stock rose 5% on the news and was trading at $10.26 as of press time.

Mining growth

The firm stated that the partnership will add 570 MW to its capacity pipeline, raising its global total to 2.5 GWs. This increase will enhance the company’s capacity for Bitcoin mining, High-Performance Computing (HPC), and Artificial Intelligence (AI).

The 570 MW capacity will be delivered in two phases, starting next year. The first phase, delivering 266 MW, is expected in the third quarter of 2025, while the remaining 304 MW is under review for regional transmission planning.

Linghui Kong, Bitdeer’s Chief Business Officer, expressed enthusiasm for the expansion. Kong said:

“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.”

Notably, the move follows Bitdeer’s recent closure of a $150 million private placement financing with Tether. The transaction included $100 million with a possibility of an additional $50 million if the warrant is fully exercised.

See also  Crypto miner HIVE Digital to double revenue with 100MW center in Paraguay

Bitdeer’s move comes amid the ongoing miner capitulation, driven by a falling Bitcoin price, declining hash rate, and a meager hash price.

Due to this, several miners have stepped up efforts to diversify their revenue streams by engaging in different activities, including providing infrastructures for artificial intelligence firms and also mining altcoins like Kaspa. Additionally, the challenging environment has led to some miners acquiring rivals.

The post Bitdeer’s stock climbs after revealing 570 MW expansion in Ohio appeared first on CryptoSlate.

Tags: BitdeersclimbsexpansionOhiorevealingStock

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