Bitdeer Technologies has fully liquidated its corporate Bitcoin treasury, reporting a zero balance in its latest update. The company sold 189.8 BTC produced during the period and liquidated an additional 943.1 BTC from reserves. This marks a significant shift from previous reports where the treasury still held Bitcoin. In a strategic move, Bitdeer announced plans to raise $300 million through a convertible senior note offering, with an option to expand to $345 million. The funds are intended for data center expansion, AI cloud growth, and mining hardware development. The announcement led to a decline in Bitdeer's share price, reflecting investor concerns over liquidity and funding strategy. The broader mining industry is increasingly pivoting towards AI and high-performance computing services. This trend is exemplified by MARA Holdings' acquisition of a majority stake in Exaion, highlighting a shift from traditional Bitcoin mining to hybrid business models that leverage AI and computing infrastructure.