Most Bitcoin miners treat their mined coins like a savings account. Bitdeer treats them like a paycheck: earned on Friday, spent by Monday.
The company disclosed that it sold its entire weekly product...

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<p>Most Bitcoin miners treat their mined coins like a savings account. Bitdeer treats them like a paycheck: earned on Friday, spent by Monday.</p>
<adv/><p>The company disclosed that it sold its entire weekly production of 206.2 <span>$BTC</span> as of May 29, 2026, leaving it with exactly zero Bitcoin on its balance sheet.</p>
<adv/><h2>A zero-treasury strategy, by design</h2>
<p>This isn’t a one-off fire sale. Bitdeer has maintained a zero net Bitcoin holdings policy since at least February 2026, when it liquidated over 943 <span>$BTC</span> from its treasury in a single move. Every week since, the company has converted its freshly mined coins into fiat, funneling the cash into operations and expansion.</p>
<p>That need is driven largely by the company’s pivot toward AI and high-performance computing infrastructure. Building data centers isn’t cheap, and Bitdeer has chosen to fund that buildout with mining revenue rather than sitting on a volatile digital asset.</p>
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</div> <p>In April 2026 alone, Bitdeer mined 783 <span>$BTC</span>, reflecting significant year-over-year production growth.</p>
<h2>The financial picture: growth with a catch</h2>
<p>Bitdeer’s Q1 2026 financials tell a story of a company growing fast and burning through capital even faster. Revenue hit $188.9 million for the quarter, a massive jump from $70.1 million in Q1 of the prior year. The company also posted a net loss of $159.5 million in that same quarter.</p>
<p>Bitdeer, listed on NASDAQ under the ticker BTDR, operates across a sprawling global footprint. Its mining and data center facilities span the US, Norway, Bhutan, Canada, Malaysia, and Ethiopia. The company also develops its own SEALMINER hardware and offers AI cloud services, positioning itself as something more than a traditional miner.</p>
<h2>How Bitdeer’s approach differs from the pack</h2>
<p>The zero-treasury model puts Bitdeer in a small and somewhat lonely camp among public mining companies. Companies like Marathon Digital and Riot Platforms have historically accumulated large <span>$BTC</span> treasuries, betting that holding the asset will deliver returns as Bitcoin’s price appreciates over time.</p>
<p>Bitdeer is making the opposite bet. Rather than treating Bitcoin as a store of value, it’s treating it purely as a revenue source, a commodity to be produced and immediately monetized.</p>
<h2>What this means for investors</h2>
<p>For anyone holding BTDR stock or considering it, this strategy fundamentally changes the investment thesis compared to other mining stocks. You’re not getting indirect Bitcoin exposure through Bitdeer. You’re getting a bet on the company’s ability to profitably mine and sell Bitcoin while simultaneously building an AI infrastructure business.</p>
<p>The $159.5 million net loss against $188.9 million in revenue is worth watching closely. Bitdeer’s consistent selling also creates a steady stream of supply pressure on Bitcoin, albeit a modest one. Selling 206 <span>$BTC</span> per week isn’t going to move the market on its own, but it represents a philosophical shift that could gain traction if other miners adopt similar strategies to fund their own AI pivots.</p>

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Bitdeer reports zero net Bitcoin holdings after selling 206.2 BTC

大多数比特币矿工把挖到的比特币当作储蓄帐户。而Bitdeer则把它们当作工资：周五挖到，周一就花光。

该公司透露，其每周的产品全部售罄…

<div><div><p>大多数比特币矿工把挖到的比特币当作储蓄账户。而Bitdeer则把它们当作工资：周五挖到，周一花掉。</p><adv/><p>该公司披露，截至 2026 年 5 月 29 日，该公司已售出其每周生产的全部 206.2<span>美元BTC</span>，使其资产负债表上的比特币数量为零。</p><adv/><h2>一项精心设计的零国库战略</h2><p>这并非一次性的清仓甩卖。Bitdeer 自 2026 年 2 月起就一直保持零净比特币持有量，当时该公司一次性从其金库中清算了价值超过 943 枚<span>BTC</span>。此后，该公司每周都会将新挖出的比特币兑换成法定货币，并将所得资金用于运营和扩张。</p><p>这一需求主要源于该公司向人工智能和高性能计算基础设施的转型。建设数据中心成本不菲，Bitdeer 选择用挖矿收入而非持有波动性较大的数字资产来资助这一建设。</p><div><div>广告</div><template/></div><p>仅在 2026 年 4 月，Bitdeer 就挖出了 783 枚<span>BTC</span>，反映出同比产量显著增长。</p><h2>金融形势：增长有代价</h2><p>Bitdeer 2026 年第一季度的财务数据显示，该公司发展迅猛，但资金消耗速度也同样惊人。该季度营收达到 1.889 亿美元，较上年同期的 7010 万美元大幅增长。然而，该公司当季净亏损高达 1.595 亿美元。</p><p> Bitdeer（股票代码：BTDR，纳斯达克上市公司）的业务遍及全球。其矿场和数据中心遍布美国、挪威、不丹、加拿大、马来西亚和埃塞俄比亚。该公司还自主研发SEALMINER硬件，并提​​供人工智能云服务，使其业务范围超越了传统的挖矿公司。</p><h2> Bitdeer 的方法与其他公司有何不同？</h2><p> Bitdeer 的零国库模式使其在上市挖矿公司中显得小众且略显孤立。像 Marathon Digital 和 Riot Platforms 这样的公司历来都积累了大量的<span>BTC</span>国库，押注持有比特币会随着比特币价格的上涨而带来收益。</p><p> Bitdeer 采取了相反的策略。它并没有将比特币视为价值储存手段，而是将其纯粹视为一种收入来源，一种可以生产并立即变现的商品。</p><h2>这对投资者意味着什么</h2><p>对于持有或考虑持有BTDR股票的人来说，这种策略从根本上改变了与其他矿业股票相比的投资逻辑。你并非通过Bitdeer间接获得比特币敞口，而是押注该公司在构建人工智能基础设施业务的同时，能够盈利地挖矿和出售比特币。</p><p> Bitdeer 净亏损 1.595 亿美元，而营收却高达 1.889 亿美元，这一数据值得密切关注。Bitdeer 持续抛售比特币也给比特币带来了稳定的供应压力，尽管压力不大。每周抛售 206 枚<span>BTC</span>本身并不会撼动市场，但这代表了一种理念上的转变，如果其他矿工也采取类似策略来为其人工智能转型提供资金，这种转变可能会获得支持。</p></div></div>

Bitdeer 报告称，在出售 206.2 个BTC后，其净比特币持有量为零。

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