Bitcoin mining company Bitdeer has sold all of its company's Bitcoin holdings, reducing its money balance to zero, in line with the corporate's latest operational update.
In its latest weekly report, Bitdeer announced that its “pure holdings,” excluding customer deposits, fell to 0 Bitcoin (BTC). The report shows that the corporate produced 189.8 BTC throughout the reporting period and sold your complete amount, together with one other 943.1 BTC liquidated from its existing treasury reserves.
In his previous update on February 13, the miner still held 943.1 BTC and sold 179.9 BTC out of 183.4 BTC mined that week, leaving his coffers intact despite routine sales of newly mined coins.
Bitdeer's Bitcoin holdings drop to 0. Source: Bitdeer
Mining firms typically sell some production to finance power, hosting and equipment costs. However, additionally they have a money balance to remain affected by the worth increase of Bitcoin. Complete liquidation of reserves is less common.
Cointelegraph reached out to Bitdeer for comment but didn’t receive a response by publication time.
Bitdeer proclaims raising of $300 million in convertible notes
On Thursday, shares of Bitdeer fell sharply after the corporate announced plans to lift $300 million through a convertible senior note, with an choice to expand the sale by one other $45 million. The notes, due in 2032, can later be converted into company stock, money or a mixture of each.
The company, founded by former Bitmain co-founder Jihan Wu, said the funds would support data center expansion, AI cloud growth, mining hardware development and general business needs.
Bitdeer has also expanded its self-mining operations as demand for its mining hardware wanes, and is increasingly using its own rigs to mine Bitcoin quite than selling them to customers.
Bitcoin miners depend on AI
On Friday, MARA Holdings acquired a majority stake in French computer infrastructure company Exaion, moving deeper into artificial intelligence and cloud services. The deal gives MARA France a 64% stake, while energy company EDF stays a minority shareholder and customer.
The transaction comes amid broader change within the mining industry. Following the 2024 halving and tighter margins, several miners have adopted a hybrid model that mixes Bitcoin production with AI and high-performance computing revenue.
Companies like HIVE, Hut 8, TeraWulf and IREN are converting facilities and energy infrastructure to be used in data centers, while firms like CoreWeave have fully grow to be AI infrastructure providers.
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