Bitdeer CEO Jihan Wu announced that the company’s zero Bitcoin balance, resulting from the liquidation of its entire treasury, is not a permanent state as the firm aims to acquire land for future operations. Bitdeer’s decision to sell its last 943.1 BTC came after a drawdown that saw its holdings fall from approximately 1,530 BTC at the end of January. The company has indicated that the sales should not be a concern for the market, as it seeks to improve liquidity for multiple land acquisition opportunities while also planning expansions in data center and AI infrastructure funded through recent fundraising efforts. This move contrasts with other public miners like MARA Holdings and Riot Platforms, which maintain substantial bitcoin reserves. The decision comes amid tightening mining economics, where network difficulty has risen and hash prices have declined.
Bitdeer CEO asserts zero bitcoin balance is temporary
