Bitdeer sells its entire bitcoin treasury to bankroll AI data-center push Singapore-based miner and AI infrastructure player Bitdeer (BTDR) has emptied its bitcoin treasury, a sharp departure from the industry playbook of hoarding BTC as a long-term reserve. The company reported zero BTC holdings as of Feb. 20 (excluding customer deposits), after selling the 189.8 BTC it produced in its latest weekly batch and converting production into immediate liquidity. Why the sell-off? Bitdeer says the move is strategic: management told followers on X that the sale shouldn’t alarm the market, and that it’s preparing liquidity to pursue “powered land” acquisition opportunities for large-scale data centers. The company also emphasized it will continue to grow hash rate and mine coins for shareholders, but is pivoting some capital toward AI infrastructure. Operational momentum remains strong. Bitdeer mined 668 BTC in January — a 430% year-over-year increase — and boosted its self-mining hash rate to 63.2 EH/s, with total proprietary hash rate at 65.1 EH/s. AI buildout details and financing Bitdeer is accelerating conversions of crypto facilities into AI data centers and is deploying NVIDIA GB200 NVL72 systems in Malaysia. The shift requires far more upfront capital than incremental mining expansions: large GPU clusters, upgraded power and cooling, and data-center retrofits. To fund that expansion (plus HPC, AI cloud growth and ASIC development), Bitdeer recently priced $325 million in convertible notes and raised $43.5 million in equity. The logic: unlike mining revenue, which is volatile and tied to BTC price cycles and halvings, AI and HPC contracts can deliver steadier, more predictable income — and reposition miners as digital infrastructure providers rather than leveraged bitcoin proxies. An industry-wide trend Bitdeer is not alone. Riot Platforms sold roughly $200 million of bitcoin to fund operations and AI projects. Bitfarms has publicly moved away from branding itself solely as a “bitcoin company” and has doubled down on U.S. AI efforts. MARA Holdings is expanding into HPC and AI through a planned 64% stake in France-based Exaion. The sector-wide pivot underscores miners’ attempts to capture higher-margin, contract-backed revenue streams. Market reaction Bitdeer shares were down about 1% pre-market, trading near $7.70 per share. Bottom line: Bitdeer’s full divestment of its BTC treasury signals a deliberate, capital-intensive pivot toward AI data-center growth — a bet many miners are making as they seek to diversify revenue and be valued beyond the bitcoin cycle. Read more AI-generated news on: undefined/news

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