Bitdeer has accumulated $1.3 billion in debt as it transitions from Bitcoin mining to AI infrastructure development. The company, which recently sold its entire Bitcoin inventory of 943.1 BTC, is redirecting its focus towards securing power and land assets globally to support AI data centers. This strategic shift includes significant projects in Texas, Ontario, and Norway, with the aim of leveraging AI-driven computing power. The company's financial strategy involves issuing convertible bonds, with recent debt offerings totaling $325 million. Despite the high debt levels, Bitdeer is betting on the future profitability of AI services, projecting potential annual revenues of up to $2 billion. However, the success of this transition hinges on timely project completions and securing long-term contracts, amidst ongoing legal challenges and market skepticism.