Bitdeer Sells $205M in Mined Bitcoin Since February; Mined 921 BTC in Reporting Period

Miner capitulation below production cost floor is now described as creating a structural bifurcation between miners that can survive and those forced to sell, adding to prior reporting on AI revenue alternatives.

Bloomberg reports miners pivoting to AI power demand as a revenue offset while the industry remains at breakeven, adding a concrete diversification narrative to prior miner margin squeeze data.

Miner revenue falling below production costs was confirmed as a deepening margin squeeze, extending prior reporting of $78K production cost vs. sub-$60K market price.

Bitcoin production cost updated to $78,000 against a sub-$78K market price, extending prior miner economics data.

BTC price remains in contested range; analyst divergence on demand vs resistance near $65K confirmed.

Bitdeer confirmed it sold all mined Bitcoin since February totaling over $205M; separately disclosed 921 BTC mined with a smaller retained stash raising questions about treasury strategy.

BTC traded between $59K and $66K with institutional demand lagging; on-chain network activity rising; $13B options expiry with bearish skew added directional pressure; Bitcoin reclaimed $63K-$64K range.

BTC returned to annual lows near $59K-$63K range; gamma concentration at specific price levels identified; trader sentiment bearish while on-chain data cautions against full bearish bias.

JPMorgan updated mining economics analysis confirms continued below-cost market prices; AI pivot identified as alternative revenue source for miners facing sustained losses.

New data quantified that approximately 20% of miners are unprofitable and 32,000 BTC were sold in Q1 while BTC remained below mining cost.

Fed signaled openness to rate hikes beyond the prior dot plot communication, causing additional Bitcoin price pressure.

Bitcoin pushed past $65K on geopolitical relief before retreating, extending prior FOMC-driven price action.

Bitcoin fell below $63,000 in a global risk-asset sell-off, extending its decline from the post-FOMC sub-$64K level.

New data showed BTC decoupling from tech stocks and long-term holder net position reaching a new all-time high, adding to prior bottom-signal analysis.

Binance market sentiment characterized as bearish with retail dip-buying while BTC's near-term direction tied to short squeeze and whale positioning.

Fed hawkish shift reduced 2026 rate cut odds and pressured global currencies, with DXY reaching its highest level since May 2025.

JPMorgan published data specifically stating that Bitcoin mining economics have 'worsened' and that BTC is trading below the estimated production cost.

BTC traded near $63,900–$64,350 post-FOMC; Fear & Greed fell to 15; five on-chain bottom signals identified; $60K floor cited by multiple analysts; Bitwise noted BTC discount vs. AI stocks.

New Fed Chair Warsh held rates but dot plot signaled more hikes; BTC fell below $64K and briefly to $62K; $580M in crypto liquidations recorded alongside a geopolitical shock from Israel striking Lebanon.

Bitcoin price confirmed trading between $65K and $67K; mining breakeven cost estimated at $76K with miners confirmed selling at a loss.

Wintermute added as additional institutional voice stating BTC bottom is undefined; CVDD on-chain model cited with $48K cycle floor projection.

Multiple crypto fund managers publicly debated whether BTC has bottomed, following Standard Chartered's June 13 call of $59K as cycle bottom.

Standard Chartered formally set $59K as cycle bottom; mining cost floor model points to $47K; $915M short liquidation cluster identified above $66K.