Bitdeer Technologies Group has fully exited its corporate Bitcoin position, reporting zero BTC on its balance sheet after liquidating 1,132.9 coins.
- Bitdeer has reduced its corporate Bitcoin treasury to zero after selling 1,132.9 BTC.
- The company is redirecting capital toward AI and HPC data center expansion.
- A convertible note offering of up to $345 million and a $43.7 million share sale will fund growth.
- The move reflects a broader industry trend as mining firms pivot to higher-margin AI hosting.
The move marks a decisive pivot away from holding digital assets and toward expanding Artificial Intelligence and High-Performance Computing infrastructure.
The Nasdaq-listed miner sold 189.8 BTC produced in the most recent period and an additional 943.1 BTC from reserves. Just weeks earlier, a February update showed treasury holdings at 943.1 BTC after the company sold 179.9 BTC out of 183.4 BTC mined during that week, leaving reserves temporarily unchanged. That balance has now been completely cleared.
The proceeds are being directed toward land acquisitions and large-scale data center development aimed at AI cloud services and next-generation computing capacity.
Aggressive Capital Raise to Accelerate Shift
Alongside the treasury liquidation, Bitdeer unveiled a major financing package. The company announced plans to raise roughly $300 million through a convertible senior note offering due in 2032, with the option to expand the deal to as much as $345 million. The notes can be converted into cash, shares, or a combination of both.
In parallel, Bitdeer completed a $43.7 million share offering to strengthen liquidity.
According to the company, the capital will be used to fund:
- Data center expansion
- AI cloud infrastructure growth
- Mining hardware development
- General corporate purposes
The strategy reflects an effort to reposition the company’s high-power infrastructure toward more predictable, higher-margin computing contracts while maintaining selective exposure to self-mining operations.
Mining Firms Race Toward AI Revenue
Bitdeer’s shift is not happening in isolation. A wave of public Bitcoin miners are repurposing their energy-heavy facilities for AI and HPC hosting.
Among the most notable transitions:
- Core Scientific secured a 12-year, more than $10 billion infrastructure agreement with AI hyperscaler CoreWeave, dedicating over 500 megawatts to AI workloads.
- IREN is rapidly expanding AI cloud operations and targeting billions in annualized revenue by 2026, supported by enterprise partnerships and large GPU deployments.
- Bit Digital exited Bitcoin mining entirely to focus on AI infrastructure and Ethereum staking through its WhiteFiber subsidiary.
- HIVE Digital Technologies is converting mining sites into AI supercomputing campuses equipped with NVIDIA H100 and Blackwell GPUs.
- Hut 8 Corp launched GPU-as-a-Service operations via Highrise AI, deploying large-scale NVIDIA clusters.
- TeraWulf is building out “WULF Compute” for AI and HPC tenants, securing long-term infrastructure commitments.
- Bitfarms recently outlined plans to transition fully toward AI and HPC revenue streams by 2027.
Halving Pressure and Margin Reality
The broader catalyst behind these shifts is the 2024 Bitcoin halving, which cut block rewards in half and tightened mining margins across the sector.
In contrast, AI hosting contracts can reportedly generate up to three times the revenue per megawatt compared to traditional Bitcoin mining, with operating margins often ranging between 80% and 90%. For infrastructure-heavy firms, the appeal is clear: long-term AI contracts offer predictable cash flow, while mining revenues remain volatile and highly sensitive to Bitcoin price swings.
Bitdeer’s decision to reduce its Bitcoin treasury to zero underscores how rapidly the economics of the sector are changing. What was once a pure-play mining industry is increasingly evolving into a hybrid data center and AI infrastructure business model.
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Source: https://coindoo.com/bitdeer-dumps-entire-bitcoin-treasury-to-fuel-ai-expansion/