Bitdeer's latest move marks an interesting turning point in the mining world. The company announced that as of February 20th, it has sold all of its bitcoin holdings—excluding customer deposits. Their weekly reports show they extracted 189.8 BTC and converted all of it into liquidity.

This decision is significant because it changes the rules of the traditional mining game. Previously, companies like MicroStrategy used accumulating bitcoin as a signal of confidence. Bitdeer, on the other hand, chose a different path—selling the bitcoin they produce to accelerate their preparations for land purchases for AI data centers. The company emphasized that this strategy should not worry the market and pointed out multiple land opportunities focused on energy.

Operationally, Bitdeer is growing rapidly. In January, it mined 668 bitcoins, showing a 430% increase year-over-year. Its hash rate reached 65.1 EH/s. But the goal is no longer just bitcoin production—building AI infrastructure. It is deploying NVIDIA GB200 systems in Malaysia and transforming its facilities in the US and Europe from crypto mining to AI data centers.

This transition requires significant capital. Bitdeer issued $325 million in convertible bonds and raised $43.5 million in equity. AI and HPC contracts differ from bitcoin mining—they offer more predictable revenue streams. This is a period when miners want to be seen as digital infrastructure players rather than leveraged trading accounts.

Bitdeer is not alone. Riot Platforms recently sold $200 million worth of bitcoin. Bitfarms no longer describes itself as a "bitcoin company" and is focusing on AI in the US. Marathon Holdings is entering the HPC and AI fields by acquiring a 64% stake in France-based Exaion. A industry-wide trend is emerging.

Bitdeer shares are trading at $7.70 pre-market, down 1%.

It is also worth noting that XRP has experienced a sharp decline recently. It fell from about $1.36 to $1.33—along with high trading volume, this is seen as a sign of aggressive selling rather than thin liquidity.