- Bitdeer
Technologies Group reported a zero Bitcoin balance in its
corporate treasury as of Feb. 20, 2026, marking a total exit from its
“HODL” strategy.
- The Singapore-based miner liquidated
943.1 BTC from its reserves in addition to selling 189.8
BTC produced during the latest week.
- The liquidation follows a
$325 million convertible notes offering intended to fund
the company’s aggressive expansion into AI cloud services
and high-performance computing (HPC).
Bitdeer Technologies Group has
officially emptied its corporate Bitcoin treasury, signaling a fundamental
shift from a traditional mining model to an AI-centric
infrastructure provider. According to the company’s latest weekly
operational update released on Feb. 20, the firm’s “pure holdings”—which
exclude client deposits—have fallen to zero
BTC.
The move represents a sharp departure from the “mine-to-hold” strategy
favored by industry peers like MARA
Holdings. Over the final week of the reporting period, Bitdeer
sold the 189.8 BTC it produced through mining and liquidated its remaining
943.1 BTC reserve. This follows a steady eight-week sell
program that saw the company’s holdings decline from approximately 2,000
BTC at the start of 2026.
The liquidation coincides with an aggressive capital raise. Bitdeer
recently announced a $325 million private placement of
convertible senior notes due in 2032. The proceeds are earmarked for
acquiring powered land, expanding HPC and AI cloud businesses,
and developing proprietary SEALMINER ASIC hardware. The
company is currently rolling out Nvidia GB200 NVL72 systems
in Malaysia and converting existing mining sites in the U.S. and Europe
into AI data centers.
Despite the sell-off, Bitdeer remains the world’s largest publicly traded
self-miner by hashrate, recently reaching 63.2
EH/s. The company clarified its stance on social media, stating
that the decision to sell was a tactical move to secure
liquidity for infrastructure growth rather than a bearish view on
the asset.
“Our decision to sell Bitcoin should not be a concern for the
broader market,” the company stated in an official update. “We are
currently evaluating multiple powered land acquisition opportunities and
believe it is prudent to prepare liquidity now, while continuing to grow
hash rate.”
Industry analysts view the move as a response to deteriorating mining
economics. On Feb. 19, the Bitcoin network saw a 14.7% difficulty
spike, the largest since 2021, which has compressed margins across
the sector. By pivoting to AI, Bitdeer aims to diversify its revenue streams
toward high-margin, stable cash flow contracts that are less sensitive to
crypto market volatility.
Disclaimer: This article is for informational purposes only and does
not constitute advice of any kind. Readers should conduct their own
research before making any decisions.
