Bitdeer Sold All Its Bitcoin Holdings

Mining company Bitdeer has sold all of its corporate Bitcoin holdings. According to its latest operational report, the company’s Bitcoin balance has dropped to zero.

In the past week alone, Bitdeer mined 189.8 BTC and sold the entire amount. In addition, the company liquidated 943.1 BTC from its previous reserves. As recently as February 13, Bitdeer held exactly 943.1 BTC in its treasury. At that time, it sold 179.9 BTC out of 183.4 BTC mined during the week, leaving its reserves untouched. Now, however, the firm has decided to completely divest its Bitcoin holdings.

In the mining industry, it is common practice to sell a portion of mined coins to cover operational costs such as electricity, equipment, and hosting. However, companies typically retain part of their reserves to benefit from potential Bitcoin price appreciation. Fully liquidating reserves remains a rare move.

Shortly after the announcement, Bitdeer’s shares declined following news of a $300 million fundraising plan through convertible notes maturing in 2032. The offering could be increased by an additional $45 million. The company said the proceeds will be used to expand data centers, develop AI cloud services, advance mining hardware research, and support general corporate purposes. Bitdeer was founded by Jihan Wu, co-founder of Bitmain.

At the same time, Bitdeer is expanding its proprietary mining operations, using its own equipment rather than selling it to customers. This shift comes in response to weakening demand for mining hardware.

The transformation is not limited to one company. Across the sector, more firms are combining Bitcoin mining with artificial intelligence and data center operations. For example, MARA Holdings recently acquired a 64% stake in the French company Exaion, leaving EDF as a minority shareholder and client. Similar moves are being made by HIVE Digital Technologies, Hut 8, TeraWulf, and IREN, all of which are adapting their infrastructure to support AI-related projects.