Bitdeer Sells Bitcoin Holdings Amid Strategic Business Decisions

Jack Kong, CEO of Nano Labs, posted on X that Bitdeer's decision to liquidate its Bitcoin holdings is a strategic business move rather than a lack of confidence in the cryptocurrency. The company is heavily invested in the development and supply chain of mining machine chips, which require significant resources. Expanding into AI data centers would further increase these demands. During a bull market, mining machine chips can yield over 90% gross profit. However, in a bear market, companies face substantial supply chain and inventory pressures. This situation is likened to real estate developers who sell properties to fund new projects, not because they lack faith in the market, but because holding onto properties might not be as profitable. The competitive nature of the industry and the challenges of entrepreneurship are highlighted as factors influencing such business decisions.