Bitdeer, a major crypto mining company, has sold all its Bitcoins
Bitdeer, one of the largest cryptocurrency miners in the world, has sold its entire crypto treasury of 943.1 BTC. This was reported by the company's CEO Jihan Wu.
According to him, this decision was made as part of a strategy to diversify the company's assets. Instead of holding digital currencies, Bitdeer plans to invest the freed-up funds in the acquisition of land plots and other assets.
"Our Bitcoin balance is now zero, but that doesn't mean it will always be that way. In the future, we will start accumulating cryptocurrency again," Jihan Wu said.
He also noted that the company is considering the possibility of buying land plots in North America, Asia, and other regions to build new mining facilities.
Expert commentary
This decision by Bitdeer seems reasonable in terms of asset diversification and risk reduction. Many large mining companies, especially public ones, are now moving away from the model of "holding all the Bitcoins we mine" in favor of a more balanced investment portfolio.
On the one hand, this reduces the potential profitability in case of a Bitcoin price increase. But on the other hand, it allows the business to be insured against sharp price fluctuations in the cryptocurrency market. Investments in real estate, for example, can become a reliable source of passive income for Bitdeer.
In general, Bitdeer's actions look pragmatic and aimed at the long-term sustainability of the company. It's possible that in the future, when the market situation stabilizes, they will return to accumulating cryptocurrency reserves.