Bitdeer Liquidates All Bitcoin Holdings in Bold Strategic Shift Towards AI and Data Centers

In a striking move that has sent ripples across the cryptocurrency mining industry, Nasdaq-listed Bitdeer Technologies (NASDAQ: BTDR) has announced the complete liquidation of its entire Bitcoin treasury. According to its latest weekly production report, as of February 20, the company’s balance sheet reflects zero Bitcoin holdings.

The report detailed that during the past week, Bitdeer successfully mined 189.8 Bitcoins, all of which were immediately sold. Concurrently, the company also divested its remaining 943.1 Bitcoins held in corporate reserves, converting these digital assets into cash. It is crucial to note that these figures exclusively represent Bitdeer’s corporate assets and do not include any client funds stored on its platform.

A Rapid and Decisive Divestment

This aggressive “clearance” strategy marks the culmination of a divestment trend that has been notably accelerating over recent months. Towards the close of last year, Bitdeer’s holdings stood at approximately 2,000 Bitcoins. By the end of January, this figure had decreased to around 1,530 BTC. The reduction continued, with holdings shrinking further to 943.1 BTC by February 13. During that specific week, the company produced 183.4 BTC and sold 179.9 BTC, largely maintaining a “mine-and-sell” operational rhythm to cover expenses.

However, the most recent reporting period saw a dramatic escalation, with Bitdeer choosing to sell off its entire remaining Bitcoin stash in a single, decisive action, completely emptying its digital asset reserves.

Strategic Pivot: Fueling AI and Data Center Expansion

The timing of this substantial cash infusion is particularly intriguing. Just days prior to this announcement, Bitdeer unveiled plans to issue $325 million in convertible notes and successfully raised an additional $43.5 million through a private equity placement.

Industry observers suggest that these intensive fundraising efforts, coupled with the complete liquidation of its Bitcoin holdings, are integral to a larger, ambitious corporate strategy. Bitdeer is reportedly channeling significant capital towards accelerating its data center expansion initiatives and facilitating a major corporate transformation, pivoting towards the rapidly growing field of artificial intelligence (AI).

An Unprecedented Stance Among Public Miners

Bitdeer’s “zero-holding” approach is a stark anomaly within the publicly traded Bitcoin mining sector. Data tracked by Bitcoin Treasuries highlights that major competitors like Marathon Digital Holdings (MARA) currently maintain substantial Bitcoin reserves, holding approximately 53,250 Bitcoins. Similarly, Riot Platforms (RIOT) retains around 18,000 BTC.

While it is common practice for miners to act as “net sellers” to cover operational costs and manage cash flow, completely liquidating a company’s entire Bitcoin reserve is an exceptionally rare and bold strategic move. This decision by Bitdeer underscores the unique challenges and strategic imperatives currently shaping the sector.

Navigating a Challenging Mining Environment

Bitdeer’s extreme strategy can also be interpreted as a direct response to the increasingly rigorous conditions within the Bitcoin mining industry. The most recent difficulty adjustment witnessed a significant 14.7% surge, intensifying competition and making mining less profitable for less efficient operators. Concurrently, the hashprice – a critical profitability metric estimating a miner’s daily expected revenue per unit of computing power – has plummeted to challenging lows, falling below $30 per PH/s daily.

Further compounding these pressures, Bitdeer’s gross margin for the fourth quarter of last year experienced a substantial decline, dropping to 4.7% from 7.4% in the same period of the previous year. Faced with the dual challenge of rising operational costs and diminishing revenues, miners are experiencing considerable cash flow strain. In such an environment, liquidating assets to bolster operational flexibility and fund strategic shifts becomes a pragmatic, albeit aggressive, option for survival and growth.

Founder’s Perspective: A Temporary State?

In response to the news, Jihan Wu, Bitdeer’s esteemed founder and chairman, offered a concise yet thought-provoking comment on the social media platform X:

现在持有为 0 不等于未来会一直如此。谢谢关注。 https://t.co/Fv2G8bdA9f

— Jihan Wu (@JihanWu) February 22, 2026

Wu’s statement, “Holding 0 now doesn’t mean it will always be the case. Thanks for your attention,” suggests that while the current divestment is complete, the company may not rule out re-accumulating Bitcoin in the future. This implies that the decision is a tactical one, responsive to current market conditions and strategic priorities, rather than a permanent abandonment of Bitcoin as a treasury asset. This leaves investors and industry observers keenly pondering the long-term implications of Bitdeer’s audacious pivot and its potential impact on the broader crypto mining landscape.