Bitdeer Sells All Bitcoin Holdings, Declares Shift to AI Infrastructure Company

▲ Bitcoin (BTC), cryptocurrency mining/ChatGPT-generated image

Bitcoin mining company Bitdeer (BTDR) has announced a dramatic transformation into a cash-focused artificial intelligence infrastructure firm after selling its entire Bitcoin holdings.

According to Cointelegraph on Feb. 22 (local time), Bitdeer revealed in its latest operational report that it had reduced its Bitcoin holdings to 0 BTC. The company sold all 189.8 BTC mined during the period. At the same time, it liquidated an additional 943.1 BTC that had been held as reserves. As recently as its Feb. 13 report, Bitdeer had maintained the 943.1 BTC reserve while selling most of its mined output, but within a week it took the unprecedented step of fully liquidating all of its Bitcoin assets.

Behind Bitdeer’s complete disposal of its Bitcoin holdings is an aggressive business expansion plan. Founder Jihan Wu intends to deploy the secured funds toward the growth of artificial intelligence (AI) cloud services, expansion of data centers, and development of its proprietary mining hardware, SEALMINER. While it is common for mining companies to sell part of their mined Bitcoin to cover operating expenses, the decision to sell all corporate Bitcoin reserves without retaining any core holdings is considered highly unusual within the industry.

Simultaneously with the asset sale, Bitdeer has moved to raise substantial capital. The company announced plans to issue $300 million in convertible bonds due in 2032, with an option to increase the issuance by an additional $45 million depending on market conditions. The funds raised are expected to be primarily allocated to the development of in-house chips for Bitcoin mining machines and the construction of AI infrastructure requiring massive computing capacity. Wu expressed his ambition for Bitdeer to evolve beyond a simple mining company into a key technology player in the high-performance computing industry.

Bitdeer’s move is interpreted as a strategic decision to reduce exposure to Bitcoin price volatility while strengthening tangible technological competitiveness. The company was spun off from Bitmain, co-founded by Wu, and has long exerted strong influence in the Bitcoin mining market. However, amid growing uncertainty in the crypto market and the rapid expansion of the AI industry, Bitdeer is accelerating its transition from directly holding Bitcoin to a business model centered on manufacturing mining equipment and leasing computing power.

The crypto industry is watching closely to see whether Bitdeer’s decision will influence how other mining firms manage their assets. The full liquidation of Bitcoin—now increasingly viewed as an institutional asset following the launch of spot Bitcoin ETFs—suggests that Bitdeer places greater value on securing AI infrastructure leadership than on improving mining efficiency. Backed by enhanced cash liquidity, Bitdeer plans to focus on establishing mass production of its next-generation ASIC miner, SEALMINER, and expanding its share in the global AI cloud market.

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