Bitdeer Secures Lease for Major Bitcoin Mining Site in Ohio

The 30-Year Agreement with Monroe County Port Authority Aims to Boost Mining Capacity
Bitdeer Secures Lease for Major Bitcoin Mining Site in Ohio

Bitcoin mining firm Bitdeer has announced a 30-year lease agreement with the Monroe County Port Authority for a site in Clarington, Ohio. The site, located at the Hannibal Industrial Park, previously housed an aluminum factory and features the necessary power infrastructure for mining operations. Bitdeer plans to secure up to 570 MW of additional power in two phases: 266 MW by Q3 2025 and 304 MW after further review.

In March, Bitdeer gained industry attention for its low energy costs, averaging $0.04 per kilowatt-hour. This efficiency, combined with a $150 million investment from Tether, underscores Bitdeer's potential to thrive despite challenges such as the recent Bitcoin halving, which decreased the block reward to 3.125 BTC and heightened concerns over mining profitability.

Research from Cantor Fitzgerald indicates that several mining firms, including Bitdeer, may struggle with profitability post-halving, given high mining costs ranging between $43,913 and $62,276 per Bitcoin. Nevertheless, Bitdeer's strategic moves suggest a proactive approach to navigating the evolving landscape.

Disclaimer: Please note that the information provided in this article is based on the referenced research articles. It is essential to conduct further research and analysis before making any investment decisions. The cryptocurrency market is highly volatile, and investors should exercise caution and consult with financial professionals before engaging in cryptocurrency trading or investment activities.

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