Bitdeer Fully Liquidates Bitcoin Reserves

Bitcoin mining company Bitdeer has completely eliminated its Bitcoin reserves, with its treasury now holding zero BTC as per its most recent operational update.

According to Bitdeer’s weekly report, the firm produced 189.8 BTC during the reporting period and sold the total amount, together with an additional 943.1 BTC from its treasury reserves. Previously, on February 13, Bitdeer maintained a treasury of 943.1 BTC, having sold 179.9 BTC out of 183.4 BTC mined in one week while still holding onto some reserves.

Bitdeer’s Bitcoin reserves are depleted Source: Bitdeer

Traditionally, mining companies sell part of their production to cover costs for electricity and equipment but usually keep some Bitcoin to benefit from price increases. Liquidating all reserves is uncommon.

Bitdeer also plans to raise $300 million through a convertible senior note offering, with potential for an additional $45 million. This fundraising will support data center expansion, AI cloud growth, mining hardware development, and general corporate needs. Following a decrease in demand for its mining hardware, Bitdeer has begun expanding its self-mining operations.

Bitcoin Miners Are Shifting Towards AI

In a related move, MARA Holdings has acquired a majority stake in the French company Exaion, furthering its entry into AI and cloud services. This transition reflects a broader trend within the mining sector toward integrating AI technologies alongside traditional Bitcoin production, especially in light of recent market conditions.

Companies like CoreWeave have pivoted entirely to AI, adapting their existing facilities and energy resources to support data center operations.