Bitcoin
Bitcoin Mining Firm Bitdeer Acquires Lease for Ohio Site — TradingView News
On June 28, Bitcoin mining company Bitdeer announced that it has entered into a 30-year lease with the Monroe County Port Authority for a site located in the Hannibal Industrial Park in Clarington, Ohio.
According to the company’s announcement, the site previously housed an aluminum factory and has the necessary power infrastructure to host Bitdeer’s mining operations.
Bitdeer aims to secure up to 570 MW of additional power through the site in two phases, with the first 266 MW delivered in the third quarter of 2025 and the remaining 304 MW of power becoming available following a review by utility authorities.
Bitdeer attracts industry attention
In March, analyst Mark Palmer expressed confidence in Bitdeer, noting that the Bitcoin mining company had one of the lowest energy costs in the industry, with an average price of $0.04 per kilowatt-hour.
Later in May, stablecoin issuer Tether announced a $150 million investment in Bitdeer, acquiring over 18 million shares. The company also has a warrant to exercise to purchase an additional 5 million shares at $10 per share.
Bitcoin halving and the mining industry
Following the April 2024 halving, concerns about miner profitability have come into sharper focus as miners face high energy costs and a reduced block reward of 3,125 Bitcoin. BTCUSD. 
A survey by Cantor Fitzgerald, a financial services firm, has revealed that several Bitcoin mining companies may not be profitable after the April halving due to the sheer costs of mining a single Bitcoin. The report noted high mining costs of between $43,913 and $62,276 per BTC for the 11 potentially impacted mining companies.
Argo Blockchain Mining stood out in Cantor Fitzgerald’s research as the mining company with the highest mining costs, at $62,276 per Bitcoin, while Hut8 came in close behind at $60,360 to mine a single coin.
However, Cantor Fitzgerald’s research uses a market price of $40,000 to determine the profitability threshold and a return to that price level has yet to be seen following the halving.