Bitdeer has sold every bitcoin it mined since February, liquidating more than $205 million worth of the cryptocurrency. The mining company is now pivoting hard toward artificial intelligence and tech infrastructure, following a path that a growing number of bitcoin miners are taking this year.
The scale of the sell-off
Bitdeer sold all of its mined Bitcoin from February through June 21, 2026 — roughly five months of production. The total haul came to over $205 million. That's a sizable chunk of supply hitting the market from a single miner, and it underscores how aggressively some mining firms are now cashing out.
Why the shift to AI
Bitcoin mining has become less reliably profitable as the network hash rate climbs and block rewards shrink. Bitdeer is reallocating its hardware and data center capacity toward AI workloads and cloud infrastructure, where demand — and pricing — is more predictable. The move mirrors what larger peers like Hut 8 and Hive Digital have done, though Bitdeer's pivot appears more abrupt: it's not just adding AI services on the side, it's winding down its Bitcoin holdings entirely.
When a miner of Bitdeer's size stops accumulating and instead dumps every coin it makes, that removes a natural buyer from the market and adds steady sell pressure. Over $205 million in sales over roughly four months works out to about $1.7 million a day. That's not a catastrophic number, but it chips away at the supply that would otherwise be held. If more miners follow — and the trend suggests they will — the market could face a longer period of absorption rather than the typical post-halving scarcity narrative.
The bigger trend among miners
Bitdeer isn't alone. Several publicly traded mining companies have announced AI or HPC partnerships this year, and some have reduced their Bitcoin treasuries. The industry's identity is shifting: the term "Bitcoin miner" increasingly describes a company that once mined Bitcoin but now runs GPUs for AI inference. Whether that transition works long-term is an open question, but the capital flowing into AI data centers gives miners a financial reason to try.
What comes next
Bitdeer hasn't said whether it plans to sell future production as well, but the pattern since February suggests it will. The company is expected to provide an update on its AI infrastructure buildout in its next earnings call, likely in early August. Until then, the market will watch whether other miners announce similar treasury cleanouts.
