Bitdeer Empties Bitcoin Treasury in Bold Expansion Move

Bitdeer Technologies Group has made a significant move in the cryptocurrency market by emptying its Bitcoin treasury. In a bold step, the company sold all of its coins, totaling around 943.1 BTC, as well as 189.8 BTC from recent output. This decision has sparked debate among investors about what it signifies for the company's future.

The move is part of Bitdeer's strategy to raise fresh capital to fund expansion plans outside pure mining. The company aims to channel the new funds into data centers, AI-related services, and in-house ASIC development. Management appears to favor liquidity over holding through price swings.

This decision has also been fueled by tighter mining economics, where power costs and equipment upgrades strain margins. Some analysts argue that this is a practical response to the current market conditions. Others view the complete sale as a bold pivot away from the 'hold and wait' model embraced by certain competitors.