Bitdeer (BTDR) Dumps Bitcoin Treasury After Eight-Week Drawdown, Holds Zero BTC

Bitdeer Technologies has fully liquidated its corporate bitcoin treasury, reporting zero BTC holdings as of February 20th, concluding an eight-week period where its reserves were drawn down from approximately 2,000 BTC at the end of 2025. The Singapore-based miner sold its entire production of 189.8 BTC for the week, along with the remaining 943.1 BTC in reserves in a single transaction. This move makes Bitdeer the largest publicly traded miner by self-mining hashrate to hold no bitcoin on its balance sheet, diverging from the typical strategy of accumulation. The liquidation aligns with tightening mining economics, marked by increased difficulty and falling hashprice, which saw Bitdeer's gross margin decline. The company stated this decision was a liquidity measure to fund expansion into AI cloud services and data center buildouts, not a reflection of negative sentiment toward Bitcoin's long-term prospects. Bitdeer is actively converting production into cash to support capital expenditures and is reallocating focus toward AI infrastructure.

(Source：Bitcoin Magazine)