- Bitdeer, a major Bitcoin miner, liquidated its entire corporate treasury this week, selling 943.1 BTC from its reserves.
- The firm also announced a $300 million convertible debt offering aimed at funding expansions in data centers, AI, and mining hardware development.
- This move coincides with a broader industry trend where Bitcoin miners are pivoting to diversify into Artificial Intelligence and high-performance computing services.
Bitcoin mining firm Bitdeer has completely depleted its corporate Bitcoin treasury, a stark reversal from holding hundreds of coins just weeks prior, according to the company’s latest operational update. In a weekly report, the company disclosed it sold all 943.1 Bitcoin from its treasury reserves alongside its newly mined production.
Consequently, the company’s “pure holdings,” which exclude customer deposits, now stand at zero Bitcoin. This full liquidation is an uncommon strategy, as miners typically maintain a treasury balance to benefit from potential price appreciation.
Meanwhile, Bitdeer announced a $300 million convertible senior note offering this week to secure capital for future growth. The company, founded by former Bitmain co-founder Jihan Wu, stated the funds will support data center expansion and its push into AI cloud services.
This financial maneuver aligns with a wider shift across the mining sector following the 2024 halving. However, many firms are now adopting a hybrid business model to improve margins.
Consequently, companies like HIVE, Hut 8, and TeraWulf are repurposing infrastructure for high-performance computing. In a parallel move, MARA Holdings recently purchased a majority stake in the French computing firm Exaion to deepen its own AI and cloud services offerings.
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