Bitcoin mining company Bitdeer has completely liquidated its corporate Bitcoin treasury, reducing its holdings to zero. According to the firm’s latest operational update, it sold 189.8 newly mined Bitcoin along with 943.1 BTC from its reserves. This move coincides with Bitdeer‘s announcement of a $300 million convertible note offering aimed at funding expansion into data centers and artificial intelligence.
The Bitcoin mining firm Bitdeer sold all its corporate Bitcoin holdings, according to its latest weekly report. Its treasury balance, excluding customer deposits, now stands at zero Bitcoin.
The company produced 189.8 BTC during the period and sold that entire amount. It also liquidated an additional 943.1 BTC from its existing corporate reserves.
An earlier update showed the miner still held those 943.1 BTC as of February 13. While it routinely sold newly mined coins, it had kept its treasury intact at that time.
Mining firms commonly sell a portion of production to cover operational costs. Maintaining a treasury balance to retain exposure to Bitcoin’s price appreciation is also standard industry practice.
On Thursday, Bitdeer announced plans to raise $300 million through a convertible senior note offering. The notes due in 2032 can later be converted into company stock, cash, or a mix of both.
The company, founded by former Bitmain co-founder Jihan Wu, stated the funds will support data center expansion and AI cloud growth. It will also fund mining hardware development and general corporate needs.
Bitdeer has been expanding its self-mining operations as demand for its mining hardware weakens. It is increasingly using its own rigs to mine Bitcoin rather than selling them to customers.
This shift reflects a wider industry trend where miners are adopting hybrid models. Following the 2024 halving and tighter margins, many are combining Bitcoin production with AI and high-performance computing revenue.
Companies such as HIVE, Hut 8, TeraWulf, and IREN are repurposing facilities for data-center use. Other firms like CoreWeave have fully transitioned into AI infrastructure providers.
