Bitdeer Liquidates Bitcoin Reserves to Focus on AI and Data Centers

Bitdeer Liquidates Bitcoin Holdings Nasdaq-listed mining firm Bitdeer Technologies (BTDR) announced that as of February 20, it no longer holds any Bitcoin in its corporate reserves.
The company disclosed that it sold 189.8 BTC produced during the week, along with the remaining 943.1 BTC previously held in its treasury.
According to the official statement, these figures represent company-owned assets and do not include customer deposits.
This move marks the completion of a strategic shift away from holding the cryptocurrency on its balance sheet.
A Strategic Shift in Financial Policy The liquidation process has accelerated significantly in recent months.
At the end of last year, Bitdeer held approximately 2,000 BTC.
This figure was reduced to 1,530 BTC by the end of January, and following the sale of the final 943.1 BTC held as of February 13, the company has completely zeroed out its reserves.
This financial strategy sets Bitdeer apart from other major publicly traded mining companies, such as MARA Holdings and Riot Platforms, which continue to maintain substantial Bitcoin reserves.
Funding AI and Infrastructure Expansion The decision to liquidate follows Bitdeer's announcement of a $325 million convertible bond issuance and a $43.5 million share sale.
The proceeds are earmarked for the expansion of the company's data centers and investments in the artificial intelligence sector.
This pivot comes at a challenging time for the mining industry.
Bitcoin network difficulty recently increased by 14.7%, while the hashprice has fallen below $30 per PH/s per day.
Consequently, Bitdeer reported a decline in its gross profit margin from 7.4% to 4.7% in the fourth quarter.
Legal Challenges In addition to its strategic pivot, the company is currently navigating a class-action lawsuit in the Southern District of New York.
The litigation involves allegations of false statements regarding the production timeline of its SEAL04 chips.