Bitdeer Sells Entire Bitcoin Stash as Mining Profits Near Record Lows
Bitdeer liquidated its entire Bitcoin treasury due to severely reduced mining profitability and is pivoting towards AI infrastructure.Summary
Singapore-based Bitcoin miner Bitdeer has sold off its entire BTC treasury, abandoning the industry standard of holding mined coins. This drastic measure follows a significant surge in Bitcoin network difficulty (up 14.7%, the largest since May 2021), which pushed mining profitability (hashprice) near record lows, creating a severe margin squeeze for operators. To navigate this crunch and fund a strategic pivot, Bitdeer announced an upsized $325 million private sale of convertible senior notes. The funds will be used to expand its high-performance computing and AI cloud businesses, develop proprietary ASIC mining rigs, and restructure existing debt. Paradoxically, this move occurs as Bitdeer becomes the largest publicly traded self-miner globally, surpassing Marathon Digital in self-managed hash rate.
(Source：BeInCrypto)