Bitdeer Mines 921 BTC in May but Holds Only 171 Amid AI Pivot

Bitdeer’s May 2026 update shows continued monetization of mined bitcoin to fund its AI infrastructure shift. The company produced 921 BTC last month, up sharply year-over-year, yet ended May holding just 171 BTC versus 1,351 a year earlier. This follows the complete liquidation of more than 3,231 BTC worth over $205 million since February, with all newly mined coins sold immediately. Proceeds, supplemented by $325 million in convertible notes and $43.5 million in equity, are being deployed into NVIDIA GB200 GPUs and the 180 MW Tydal AI data center project. While AI Cloud ARR has reached $69 million, the low treasury balance highlights ongoing reliance on bitcoin sales to support growth and debt service.