Did Bitdeer sell off all their Bitcoin because they’re not optimistic about it anymore? Developing mining machine chips and investing in the supply chain already requires a huge amount of resources. If they want to further invest in AI data centers, the costs would be even higher. So Bitdeer selling off their Bitcoin is just a normal business decision. Mining machine chips can have over 90% profit margins during a bull market, but in a bear market, they still have to withstand massive supply chain pressures and inventory challenges. It’s like back in the day when so many real estate companies sold properties to fund new developments—it didn’t mean they weren’t optimistic about real estate. In the end, holding onto properties might have been more valuable. The real estate industry was so competitive, and starting a business is never easy!