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Why This Miner Is Selling Everything It Produces

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Bitcoin Miner Activity Hits Highest Level Since 2024 with 90K BTC Sent to Binance


Despite dumping its treasury, Bitdeer boosted self-mining above 63 EH/s and significantly increased year-over-year Bitcoin production amid market pressure.

In a bid to calm investor nerves after confirming that it has sold all of its Bitcoin holdings, Bitdeer Technologies framed the move as a deliberate liquidity decision rather than a bearish signal on the asset itself.

In a recent statement, the Singapore-based miner stated that converting newly mined Bitcoin into cash is a pragmatic step as it evaluates several non-binding opportunities to acquire powered land, a process that requires capital readiness well before deals are finalized.

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Zero-BTC Balance Sheet

Despite the sale, Bitdeer continues to scale aggressively on the operational front. It ramped up self-mining capacity to more than 63 EH/s and sharply increased Bitcoin production year over year, even as it sold the entirety of its recent output rather than retaining it on the balance sheet. Its official announcement on X read,

“Our decision to sell Bitcoin should not be a concern for the broader market. Our hash rate will continue to grow, and we will continue to mine more Bitcoin for the interest of our shareholders.”

The latest move represents a significant departure from the balance-sheet accumulation strategy popularized by firms such as Strategy, which has treated Bitcoin as a long-term reserve asset.

At the same time, the firm is accelerating a strategic pivot that further explains its cash needs – expansion into AI and high-performance computing infrastructure. Deploying large-scale GPU systems and converting existing mining sites in the US and Europe into AI-ready data centers demands substantially more upfront capital than incremental mining buildouts, which makes the sale more rational.

Breaking From Miner Playbook

Bitdeer isn’t the only player to have offloaded its BTC stash. In fact, there has been an emerging pattern among public miners such as Riot Platforms, Bitfarms, and Core Scientific, many of which have partially sold mined Bitcoin or diversified into AI to stabilize cash flows.

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Even so, Bitdeer’s decision to completely exit Bitcoin holdings places it outside the norm for publicly traded miners. Most of its peers still maintain sizable treasuries. For instance, MARA Holdings holds more than 53,000 BTC, while Riot Platforms retains close to 18,000 BTC.

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Crypto World

Payoneer Adds to Crypto, Fintech Firms Seeking Bank Charter

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Payoneer Adds to Crypto, Fintech Firms Seeking Bank Charter

Global financial services firm Payoneer is the latest in a growing number of companies that have filed for a national trust banking charter in the US, which could enable it to issue a stablecoin and provide various crypto services.

Payoneer said on Tuesday it filed with the Office of the Comptroller of the Currency to form PAYO Digital Bank, a week after it partnered with stablecoin infrastructure firm Bridge to add stablecoin capabilities to its platform that is mainly focused on cross-border transactions.

Payoneer said that it is seeking to issue a GENIUS Act-compliant stablecoin, PAYO-USD, to serve as the holding currency in Payoneer wallets, in addition to allowing customers to pay and receive stablecoins.

OCC approval would also enable Payoneer to manage PAYO-USD reserves, offer custodial services and enable customers to convert between the stablecoins into their local currency.

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“We believe stablecoins will play a meaningful role in the future of global trade,” said Payoneer CEO John Caplan.

Source: Payoneer

The OCC gave conditional approval to Crypto.com for a charter on Monday, adding to the banking charters won by crypto companies Circle, Ripple, Fidelity Digital Assets, BitGo and Paxos in December.

Related: Better, Framework Ventures reach $500M stablecoin mortgage financing deal

The Trump family’s World Liberty Financial also applied for one in January to expand the use of its USD1 (USD1) stablecoin, but is still awaiting a decision. 

Crypto trading platform Laser Platform also submitted an application in January, while Coinbase has been awaiting a decision on its application since October.

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Stablecoins ideal for business cross-border transfers: Payoneer

Payoneer said OCC approval would allow it to offer its nearly two million customers, which are mostly small and medium-sized businesses, a regulated stablecoin solution to simplify cross-border trade.