Home Bitdeer Sells 292.3 Bitcoin Mined In A Week, Keeps Holdings At Zero

Bitdeer Sells 292.3 Bitcoin Mined In A Week, Keeps Holdings At Zero

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Bitdeer Sells 292.3 Bitcoin Mined In A Week, Keeps Holdings At Zero
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Bitcoin mining company Bitdeer sold all 292.3 Bitcoin it mined throughout the week ended October 2, leaving its Bitcoin holdings at zero. The Nasdaq-listed company informed that it sold every Bitcoin generated from its mining operations during the week, resulting in no net addition to its Bitcoin balance.

Weekly Output Sold In Full

Bitdeer’s official weekly update showed that the company produced 292.3 BTC during the period, equivalent to an average production rate of approximately 41.8 BTC per day. The company’s balance sheet did not increase despite that production because all of the mined Bitcoin was sold.

At a Bitcoin market price of around $84,800, the 292.3 BTC produced during the week would be worth approximately $24.8 million. That figure is an estimate based on market prices rather than the actual execution prices achieved by Bitdeer when it sold the coins.

Proceeds Redirected Toward AI Infrastructure

The company is funnelling the profits from its mining operations into the development of AI cloud and power infrastructure, as it looks to diversify beyond Bitcoin mining. For Bitcoin watchers, the more important question is how much of the newly mined crypto will actually make its way into the market.

The company’s Bitcoin holdings therefore remained at zero after the latest sales. This means Bitdeer is not currently building a Bitcoin reserve from its mining output, instead converting the mined coins into proceeds that can be deployed elsewhere.

Bitcoin Price Holds Near $84,800

Bitcoin was trading near $84,800 around the time of the report, while the market had apprehended the $84,000 level over the weekend. The source also noted that Bitcoin was up around 0.2% over the previous 24 hours.

The latest figures make Bitdeer’s selling pattern appropriate for supply watchers. While 292.3 BTC signifies only a portion of overall Bitcoin market activity, the weekly cadence shows that the listed miner is consistently selling its newly produced Bitcoin rather than gathering it on its balance sheet.

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