Bitdeer Sells More Bitcoins Than It Mines for Second Consecutive Week

Bitdeer Technologies Group, a Singapore-based bitcoin miner and AI cloud operator listed on NASDAQ under BTDR, reported another week of selling more BTC than it produced. The company's weekly update for September 25 showed sales of 288.4 BTC, while its output was 288.1 BTC. Notably, the report also stated that Bitdeer has zero pure holdings, meaning it did not add any new bitcoins to its balance.

The data is significant because it shows a trend of Bitdeer selling more coins than it mines. The company's August operations report listed 61 BTC held at the end of the month, down from 257 in July. This suggests that Bitdeer is using its mined coins to fund its operations or repay loans.

It's worth noting that this is not an isolated incident. Other bitcoin miners, such as MARA Holdings and PowerCompute, have also been selling their mined coins rather than accumulating them. In fact, MARA reported sales of 15,133 BTC in March for approximately $1.1 billion.