Singapore-based Bitdeer Technologies Group has offloaded its entire bitcoin treasury to strengthen its cash position, marking a decisive pivot as the firm channels resources into AI and data center expansion.
As of Feb. 20, Bitdeer reported holding zero BTC on its balance sheet, excluding customer deposits. In its latest weekly disclosure, the company said it produced 189.8 BTC and sold the full amount. The move represents a clear departure from the accumulation strategy embraced by companies such as Strategy, which treat bitcoin as a core reserve asset.
In a post on X, Bitdeer said the liquidation should not be interpreted as a bearish signal. The company explained that it is evaluating multiple powered land acquisition opportunities and views it as prudent to build liquidity now while continuing to expand its mining capacity for shareholders.
Operational growth remains strong. Bitdeer mined 668 BTC in January, a 430% increase year over year. Its self-mining hash rate rose to 63.2 exahashes per second (EH/s), with total proprietary hash rate reaching 65.1 EH/s, reflecting continued scaling of its mining operations.
At the same time, the company is accelerating its shift toward artificial intelligence infrastructure. Bitdeer is deploying NVIDIA GB200 NVL72 systems in Malaysia and converting several facilities in the U.S. and Europe from traditional crypto mining sites into AI-focused data centers. Unlike incremental mining expansions, AI buildouts require significant capital investment in GPU clusters and upgraded infrastructure.
To fund this transition, Bitdeer recently completed a $325 million convertible notes offering and raised an additional $43.5 million through an equity sale. The proceeds will support data center development, high-performance computing (HPC) and AI cloud services, as well as ASIC research and development.
The strategy reflects a broader transformation across the mining industry. While bitcoin mining revenues fluctuate with price cycles and halving events, AI and HPC contracts can provide more stable and predictable income streams. By expanding into AI infrastructure, miners are aiming to reposition themselves as digital infrastructure operators rather than pure bitcoin proxies.
Other industry players are moving in a similar direction. Riot Platforms recently sold $200 million worth of bitcoin to support operations and AI growth. Bitfarms has stepped back from emphasizing its identity as solely a bitcoin miner while ramping up AI initiatives in the U.S. Meanwhile, MARA Holdings is expanding into HPC and AI through a planned 64% stake in France-based Exaion.
Bitdeer shares were down about 1% in pre-market trading, changing hands near $7.70.
