Bitcoin mining company BitDeer has sold all of its corporate Bitcoin holdings, reducing its financial balance to zero, according to the company’s latest operational update.
In its latest weekly report, Bitdeer revealed that its “net holdings” excluding customer deposits amounted to 0 Bitcoin ($BTC). According to the report, the company produced 189.8 $BTC During the period, they sold the entire amount and sold an additional $943.1. $BTCliquidated from existing Treasury reserves.
In the previous update on February 13th, miners still held 943.1 $BTCsales 179.9 $BTC 183.4 points $BTC The treasury remained intact because it was mined during the week, even though newly minted coins are sold on a daily basis.
Bitdeer’s Bitcoin holdings decreased to 0. source: bit deer
Mining companies typically sell a portion of their production to cover the costs of power, hosting, and equipment, but they also maintain treasury balances in case Bitcoin prices rise. Complete liquidation of reserves is less common.
Cointelegraph reached out to Bitdia for comment, but did not receive a response in time for publication.
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Bitdeer announces $300 million convertible debt financing
BitDeer shares plunged on Thursday after the company announced plans to raise $300 million through a convertible bond offering, with an option to increase the sale by an additional $45 million. The note expires in 2032, after which it can be converted into stock, cash, or both.
The company, founded by former Bitmain co-founder Jihan Wu, said the funding will support data center expansion, AI cloud growth, mining hardware development and general enterprise needs.
Bitdeer has also expanded its self-mining business as demand for mining hardware weakens, increasingly using its own rigs to mine Bitcoin rather than selling it to customers.
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Bitcoin miners shift focus to AI
On Friday, MARA Holdings bought a majority stake in French computing infrastructure company Exaion, further expanding into artificial intelligence and cloud services. The deal gives MARA France 64% ownership, while energy company EDF remains a minority shareholder and customer.
The deal comes amid widespread changes across the mining industry. In response to the 2024 halving and narrowing margins, some miners have adopted a hybrid model that combines Bitcoin production with revenue from AI and high-performance computing.
Companies like HIVE, Hut 8, TeraWulf, and IREN are reusing equipment and energy infrastructure, and CoreWeave is fully transitioning to an AI infrastructure provider.
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