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.
Bitdeer #BTC Weekly Update
🔹 BTC Holdings: 0 (pure holdings, excluding customer deposits)
🔹 BTC Output: 189.8 BTC
🔹 BTC Sold: 189.8 BTC
🔹 Net BTC Added: -943.1 BTC
📅 Data as of February 20, 2026.#Bitcoin #BTC #BitcoinHoldings #BitcoinCommunity #BTCMining $BTDR pic.twitter.com/vtvBVEui0Q— Bitdeer (@BitdeerOfficial) February 21, 2026
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.
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
