Bitdeer Liquidates 943 $BTC, Cutting Treasury to Zero


$BTC mining firm #Bitdeer Technologies has liquidated its entire corporate Bitcoin treasury, reporting zero holdings as of Feb. 20, according to a weekly operational update the company posted on X. The disclosure marks a full drawdown from approximately 2,000 BTC held at year-end 2025.


In the week ending Feb. 20, Bitdeer produced 189.8 $BTC and sold the full amount mined, while simultaneously liquidating its remaining 943.1 BTC in reserve holdings. The figures exclude customer deposits. The prior week's update, dated Feb. 13, showed the company still held that 943.1 $BTC reserve intact after selling 179.9 $BTC out of 183.4 BTC mined, maintaining its treasury balance even while selling most of its production.


The acceleration from routine production sales to a full reserve #liquidation within a single week represents a material shift. Bitdeer held roughly 1,530 $BTC at the end of January before falling to 943.1 $BTC by Feb. 13. The final week's sell-off erased what remained. #Bitcoin


#Mining companies regularly sell a portion of newly mined coins to cover operating costs, including electricity, hosting, and hardware. Maintaining a #treasury reserve to preserve exposure to price appreciation is a common practice among publicly traded miners. A complete reserve liquidation is less typical and positions Bitdeer apart from most peers. MARA Holdings holds approximately 53,250 $BTC, Riot Platforms holds around 18,000 $BTC, and Strategy, the largest corporate holder, has accumulated over 717,000 BTC.


The liquidation followed Bitdeer's announcement of a $325 million convertible notes offering and a $43.5 million equity placement, both aimed at funding data center expansion and the company's push into artificial intelligence infrastructure.

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February 23, 2026 at 12:04 AM
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