Bitdeer Continues Bitcoin Sales Amid Market Volatility

Bitdeer, a prominent cryptocurrency miner, has maintained its unconventional approach to managing bitcoin holdings. In the week ended May 29, the company sold all the bitcoin it mined, totaling over 206 BTC. This is consistent with its 'no-holdings financial strategy' that has been in place since late February.

According to reports, Bitdeer started the year holding approximately 2,000 BTC but quickly depleted its reserves within eight weeks. In the final liquidation week, it sold an additional 943.1 BTC from its reserves on top of its usual sales of production.

The company has been using the cash generated from selling its bitcoin to expand other businesses. It raised $325 million through convertible bonds and $43.5 million through equity financing this year. The funds have been used for data centre development, building next-generation ASICs (application-specific integrated circuits), and expanding artificial intelligence (AI) cloud services.

Bitdeer's facility in Tydal, Norway, has been transformed into an AI data centre, with the annualised run rate of AI cloud services revenue surpassing $69 million. However, the company's results also showed both growth and losses, with a net loss of $159.5 million in its first-quarter 2026 revenue.