Bitcoin mining company Bitdeer has sold all the bitcoin it held, Cointelegraph reported on Feb. 22 local time.
In a recent weekly report, Bitdeer said it sold 943 BTC it previously held and also disposed of all 189.8 BTC it newly mined.
Miners generally sell some bitcoin to cover electricity and equipment costs, but it is rare for them to sell their entire holdings. Bitdeer also plans to issue $300 million in convertible bonds and use the proceeds for data centre expansion, AI cloud growth and mining hardware development. The bonds mature in 2032 and can be converted into shares or cash.
The bitcoin mining industry is seeking to pivot to AI and high-performance computing in preparation for worsening profitability after the 2024 halving. MARA Holdings is expanding into AI and cloud services by acquiring a 64 percent stake in French computing infrastructure company Exaion.
Chi-gyu Hwang (황치규)
delight@d-today.co.kr