10:41 AM EDT, 06/28/2024 (MT Newswires) -- Bitdeer Technologies ( BTDR ) shares rose 9.6% in recent Friday trading after the company signed a lease agreement with the Monroe County Port Authority in Ohio for up to 570 megawatts of additional power capacity.

The partnership will increase the company's capacity to 2.5 gigawatts globally and boost its infrastructure development pipeline for bitcoin mining as well as high-performance computing and artificial intelligence, according to a statement.

Bitdeer ( BTDR ) leased land for 30 years at the Hannibal Industrial Park in Clarington, Ohio. The site is owned by the port authority.

Of the 570 megawatts of capacity, 266 megawatts are expected to be available in Q3 2025 with 304 megawatts "under review to be formally incorporated into the regional transmission planning process," Bitdeer ( BTDR ) said Friday.

Financial details weren't provided.

Price: 10.72, Change: +0.94, Percent Change: +9.61