Bitdeer’s Bitcoin Balance Hits Zero After Total Sell-Off – Details

bitcoinistPublished on 2026-02-23Last updated on 2026-02-23

Abstract

Bitdeer Technologies Group has completely sold off its entire Bitcoin holdings, reducing its corporate treasury balance to zero. This includes both recently mined coins and long-held reserves, totaling over 1,132 BTC. The move comes as the company seeks to raise more than $300 million through convertible notes to fund expansion into data centers, AI services, and ASIC development. The market reacted negatively, with shares falling around 15% due to concerns over dilution and debt. Meanwhile, Bitcoin’s price remains volatile, trading around $67,600 amid geopolitical tensions and macroeconomic developments. The decision reflects a strategic shift toward liquidity and operational funding over holding Bitcoin as a treasury asset.

Bitdeer Technologies Group has emptied its Bitcoin treasury, selling every coin on its books and bringing its corporate balance to zero.

The move follows weeks of steady disposals and comes as the company pursues fresh capital to fund expansion plans outside pure mining.

Bitdeer Sells Entire Bitcoin Holding

Based on reports, the company offloaded both newly mined tokens and long-held reserves through February 2026. Around 189.8 BTC from recent output were sold, along with roughly 943.1 BTC previously kept on the balance sheet.

By the time the transactions were settled, no crypto remained in corporate custody. Reports say this drawdown gathered pace after Bitdeer unveiled plans to raise more than $300 million through convertible notes.

The stock market responded quickly. Shares slid about 15% after the disclosures, reflecting concern over dilution and rising debt obligations. While miners often sell part of their production to cover operating costs, a full liquidation of reserves is rare. That distinction has fueled debate among investors about what the decision signals.

Bitcoin Price Action

Bitcoin’s own price backdrop has been anything but calm. The alpha coin has been choppy but steady around key macro headlines, holding a range near the mid-$67,000s to high-$60,000s in recent sessions.

After heightened geopolitical tension between the US and Iran stirred safe-haven flows and wider swings in risk assets, BTC briefly climbed above $68,000 before profit-taking pulled it back. Traders remain cautious. Volatility has been tied to geopolitical risk mood and movements in traditional markets.

Bitcoin is now trading at $67,617. Chart: TradingView

At the same time, the US Supreme Court’s ruling that struck down parts of US President Donald Trump’s tariff framework triggered a modest bounce across risk assets, including Bitcoin.

Gains didn’t last long. BTC ticked up after the SC ruling but later met selling pressure as markets weighed the impact and Trump signaled new tariff options.

The overall pattern points to range-bound trading, with macro headlines guiding short-term direction rather than a strong breakout.

Why The Company Chose To Raise Cash

Reports note that Bitdeer plans to channel the new funds into expansion of data centers, AI-related services, and in-house ASIC development. Management appears to favor liquidity over holding through price swings.

Some analysts argue this is a practical response to tighter mining economics, where power costs and equipment upgrades strain margins.

Others view the complete sale as a bold pivot away from the “hold and wait” model embraced by certain competitors.

The company has not signaled a permanent exit from holding Bitcoin in the future, but for now, its balance sheet stands empty of the asset it produces.

Featured image from Unsplash, chart from TradingView

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Related Questions

QWhat was the total amount of Bitcoin that Bitdeer sold, and what was the breakdown between newly mined and long-held reserves?

ABitdeer sold a total of 1,132.9 BTC. This consisted of 189.8 BTC from recent mining output and 943.1 BTC from its long-held reserves on the balance sheet.

QHow did the stock market react to the news of Bitdeer's complete Bitcoin sell-off and its fundraising plans?

AThe stock market reacted negatively. Bitdeer's shares slid approximately 15% following the disclosures, reflecting investor concern over potential dilution from the fundraising and rising debt obligations.

QWhat are the stated reasons for Bitdeer's decision to sell its Bitcoin and raise capital through convertible notes?

AThe company plans to channel the new funds into expanding its data centers, developing AI-related services, and funding in-house ASIC development. Management favored liquidity over holding Bitcoin through its price swings.

QWhat was the price range of Bitcoin mentioned in the article during the period of this news?

ABitcoin was described as holding a range in the mid-$67,000s to high-$60,000s. It briefly climbed above $68,000 due to geopolitical tensions before being pulled back by profit-taking, and was trading at $67,617 at the time of the chart.

QWhat two major geopolitical and US political events were cited as influencing Bitcoin's short-term price action?

AThe two events were heightened geopolitical tension between the US and Iran, which stirred safe-haven flows, and the US Supreme Court's ruling that struck down parts of former President Donald Trump's tariff framework, which triggered a modest bounce in risk assets.

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