On June 28, Bitcoin mining firm Bitdeer introduced it entered right into a 30-year leasing settlement with the Monroe County Port Authority for a website positioned on the Hannibal Industrial Park in Clarington, Ohio.
Based on the corporate’s announcement, the positioning beforehand featured an aluminum manufacturing facility and has the mandatory energy infrastructure to host Bitdeer’s mining operations.
Bitdeer goals to safe up to 570 MW of further energy by way of the positioning in two phases, with the primary 266 MW delivered in Q3 2025, and the remaining 304 MW of energy turning into obtainable after a evaluation by utility authorities.
Bitdeer garners consideration from business
In March, analyst Mark Palmer expressed confidence in Bitdeer, noting that the Bitcoin mining firm had one of many lowest vitality prices within the business, with a median price of $0.04 per kilowatt hour.
Later, in Might, stablecoin issuer Tether introduced a $150 million funding in Bitdeer, buying greater than 18 million shares. The corporate additionally has a warrant to train the acquisition of an extra 5 million shares at $10 per share.
The Bitcoin halving and the mining business
Following the April 2024 halving, issues about miner profitability have come below sharper focus as miners cope with excessive vitality prices and a decreased block reward of three.125 Bitcoin BTCUSD.
Analysis from Cantor Fitzgerald, a monetary companies agency, revealed that a number of Bitcoin mining corporations may not be worthwhile following the April halving as a result of all-in prices to mine a single Bitcoin. The report famous excessive mining prices between $43,913 and $62,276 per BTC for the 11 doubtlessly impacted mining companies.
Argo Blockchain Mining stood out in Cantor Fitzgerald’s research because the mining agency with the best mining prices, at $62,276 per Bitcoin, whereas Hut8 carefully adopted at $60,360 to mine a single coin.
Nevertheless, Cantor Fitzgerald’s research makes use of a market price of $40,000 to find out the edge for profitability and a return to this price stage has not but been seen post-halving.