Bitdeer CEO says bitcoin balance 'will not always be zero' as miner eyes land acquisitions after liquidating entire treasury

• Bitdeer CEO Jihan Wu said the company’s zero-bitcoin balance is not permanent after the miner sold its final 943.1 BTC.

Article Summaries:

• Bitdeer, a cryptocurrency mining firm, has sold its entire treasury of 943.1 BTC, leaving the company with a zero bitcoin balance. CEO Jihan Wu said this zero balance is temporary, as the company plans to reinvest the proceeds into land acquisitions for future mining operations. Wu, a former co‑founder of Bitmain, indicated that the cash will be used to expand Bitdeer’s physical footprint. The move follows a series of asset sales that have reduced the company’s on‑hand crypto holdings to zero, signalling a shift toward infrastructure expansion rather than holding digital assets.

Sources:

• https://www.theblock.co/post/390785/bitdeer-ceo-says-bitcoin-balance-will-not-always-be-zero-as-miner-eyes-land-acquisitions-after-liquidating-entire-treasury?utm_source=rss&utm_medium=rss