Bitdeer has emptied its corporate Bitcoin treasury, selling every coin it held and reducing its balance to zero. According to the weekly operational update, the Singapore Bitcoin mining company has revealed that its “pure holdings,” which excludes customer deposits, now stand at 0 BTC.
This means that the firm no longer holds any Bitcoin in its own balance sheet, and it has liquidated both newly mined coins and older reserves.
During the week Bitdeer recorded that it mined 189.8 BTC but immediately sold the entire amount instead of adding it to its treasury. On top of that, the company also sold an additional 943.1 BTC that was previously held in the reserve.
A few weeks ago, on February 13, Bitdeer held exactly 943.1 BTC in its treasury. At that time, it had mined 183.4 BTC and sold 179.9 BTC, keeping its long-term holdings (BTC in reserve) untouched despite routine weekly sales.
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Typically, when mining companies sell part of their newly mined Bitcoin, it is to cover operational expenses such as electricity bills, hosting fees, and equipment upgrades. However, most of these large miners also maintain their treasury balance in order to benefit from potential future price increases.
By fully liquidating its reserves, Bitdeer has taken a step that is not typically common with many mining companies in the industry. The move suggests that Bitdeer may be prioritizing liquidity and capital flexibility over holding Bitcoin for long-term appreciation.
Bitdeer’s Sell-off Raises Questions About Its Next Move
So far, the company has not clarified why it sold off all its Bitcoin holdings. However, the timing has sparked discussion, especially as a lot of mining companies are showing interest in expanding into the artificial intelligence (AI) sector.
A few days ago, it was announced that EDF Pulse Ventures finalized a deal with MARA France for a 64% stake in Exaion after securing the necessary regulatory approvals.
Overall, these developments show that while some miners are adjusting their treasury strategies, others are focusing on partnerships and expansion. For Bitdeer, the complete liquidation of its Bitcoin holdings marks a shift that could signal a more cautious financial stance in the current volatile market.
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