Bitdeer Liquidates Its Entire Bitcoin Treasury, Pivots Fully to AI

One Bitcoin mining company just made a decision that would have sounded unthinkable a few years ago: sell every last coin it holds and walk away from the business model entirely.

Bitdeer liquidated its entire Bitcoin treasury down to zero, selling both the 189.8 BTC it mined during the recent period and 943.1 BTC from its existing reserves, a combined sale worth approximately $62 million, as mining margins hit all-time lows across the industry. The company is redirecting proceeds toward AI and high-performance computing infrastructure instead.

Bitdeer cited AI data center operations generating 3 to 25 times more revenue per kilowatt of power compared to Bitcoin mining, with profit margins in the 80% to 90% range, a gap wide enough to justify walking away from mining entirely rather than simply diversifying alongside it.

Selling down to genuinely zero Bitcoin holdings is a notably more aggressive move than the partial pivots several other mining companies have made this year, where firms typically redirect a portion of power capacity toward AI deals while still maintaining at least some Bitcoin treasury position.

The move adds Bitdeer to a growing group of mining operators treating AI and HPC infrastructure not as a hedge against weak mining economics but as an outright replacement business, a shift that could meaningfully affect Bitcoins total network hash rate if enough large operators follow the same path.

Want to understand why AI data center revenue per kilowatt can outpace Bitcoin mining so dramatically? Learn more in the Bitcoin Academy.