Bitcoin Miner Bitdeer Liquidates Entire BTC Treasury, Holdings Fall to Zero

Bitcoin mining firm Bitdeer has completely liquidated its corporate Bitcoin reserves, bringing its treasury balance down to zero, as disclosed in its recent weekly operational update. The company sold 189.8 BTC produced during the period, along with an additional 943.1 BTC from its existing reserves. This move is unusual, as miners typically sell only portions of their production to cover costs while retaining some BTC for price exposure. The liquidation followed Bitdeer's announcement of plans to raise $300 million through a convertible senior note offering to fund data center expansion, AI cloud growth, and hardware development. This action occurs amid a broader industry trend where Bitcoin miners are increasingly pivoting towards AI and high-performance computing services to offset pressures from the recent halving and tighter margins.

(Source：Cointelegraph)