Bitdeer Reduces BTC Holdings from 257 to 61 Amid AI and HPC Expansion

Bitdeer Technologies Group ($BTDR) reduced its Bitcoin (BTC) holdings from 257 coins at the end of July to 61 at the end of August. The company stated it mined 1,310 BTC in August, up from 1,190 in July and a 249% increase compared to August 2023's 375 BTC. However, official records do not confirm reports that Bitdeer sold 1,506 BTC for $15 million during the same period.

Bitdeer's August operational update noted its holdings at 61 BTC as of month-end, with mining hash rates reaching 79.9 EH/s internally and 21.6 EH/s through third-party data centers. The company clarified that its holdings exclude customer deposits but include Bitcoin used as collateral. While mining output rose, the decrease in holdings does not necessarily reflect direct sales.

Bitdeer is expanding its AI and high-performance computing (HPC) infrastructure, including a 16-year contract at Norway's Tidal Campus to supply 121 IT MW for data center services. The initial value of this agreement is approximately $4.7 billion, with potential growth to $8 billion if extension options are exercised. The first phase targets completion by December 31, 2026, and the second by March 31, 2027.

The company reported an August AI cloud annual recurring revenue (ARR) of $86 million, up from $76 million in July, though GPU utilization dropped to 92% from 95%. The firm expects total revenue to exceed $800 million, with recognition beginning in Q1 2027. Bitdeer emphasized that its mining and AI business expansion is ongoing, but the August operational update did not confirm specific sales figures or 'zero treasury' policies.