The latest update from Bitdeer, a Bitcoin mining company, shows that it has sold its entire corporate Bitcoin portfolio, which reduces its treasury account to zero.
Bitdeer has released its most recent weekly report. disclosed It is “pure holdings,” Bitcoin (excluding customer deposits) has fallen to zero BitcoinBTC). According to the report, the firm produced and sold 189.8 BTC in the time period, plus an extra 943.1 BTC that was liquidated by the existing reserve funds.
The earlier update The miner had a total of 943.1 BTC on February 13th, despite selling 183.4 BTC that week. Its treasury was intact, despite the routine sale of new coins.
It is common for mining firms to sell part of their production in order to pay electricity costs and hosting fees. They also keep a reserve balance so that they can remain exposed to Bitcoin price increases. It is rare to fully liquidate reserves.
Cointelegraph contacted Bitdeer to get a comment but did not receive a reply by the time of publication.
Related: Bitcoin mining difficulty rebounds 15% as US miners recover from winter outages
Bitdeer announces $300 million convertible debt raise
Bitdeer’s stock fell dramatically on Thursday following the company’s announcement plans to raise $300 million Through a convertible senior notes offering with the option of expanding by $45,000,000. Notes due in 2032 can be converted later into cash, company stock or a mixture of both.
Jihan Wu (former co-founder of Bitmain) founded this company. Jihan Wu said funds would be allocated to support the expansion of data centers, AI growth in cloud computing, development of mining hardware and other corporate needs.
The Bitdeer is also a popular breed. expanding its self-mining operations As demand for mining hardware dwindles, Bitmain is increasingly mining Bitcoin on its own machines rather than selling it to its customers.
Related: Bitcoin miners chase 30 GW AI capacity to offset hashprice pressure
AI becomes the main focus for bitcoin miners
MARA Holdings announced its Friday schedule. purchased a majority stake Exaion is a French company that provides computing infrastructure. It has expanded its services to include artificial intelligence, cloud and other technologies. MARA France will own 64% of the company, while EDF is a minor shareholder.
The deal was made as part of an industry-wide shift. After the 2024 half-off and narrower margins several miners adopted a hybrid mining model which combines Bitcoin production and AI revenue.
Companies such as HIVEHut 8, TeraWulf, and IREN are using their facilities and infrastructure to power data centers, while companies like CoreWeave have fully transitioned into AI infrastructure providers.
Magazine: Bitcoin may take 7 years to upgrade to post-quantum — BIP-360 co-author
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
