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Bitdeer
2026-07-03 21:00:14

Why Bitdeer Sold All of Its Bitcoin Treasury and Shifted Toward Cash, Infrastructure, and AI Growth

Bitdeer Technologies has fully liquidated its corporate Bitcoin treasury, reducing its balance sheet holdings to zero as of Feb. 20 after an eight-week drawdown from roughly 2,000 BTC at the end of 2025. In its latest production update, the Singapore-based miner said it produced 189.8 BTC during the reported period and sold all of it, while also offloading its remaining 943.1 BTC reserve in a single week. The company stressed that these figures exclude customer deposits and argued that the decision should not be interpreted as a negative signal for Bitcoin’s long-term outlook. Instead, Bitdeer framed the sale as a liquidity and capital allocation decision tied to powered land acquisition opportunities and infrastructure expansion. The move comes as mining economics become more difficult, with Bitcoin network difficulty up 14.7%, hashprice falling below $30 per PH/s/day, and Bitdeer’s fourth-quarter gross margin dropping from 7.4% to 4.7% year over year. At the same time, the company is raising fresh capital through a $325 million convertible notes offering and a $43.5 million equity placement to fund data center buildouts, ASIC development, and growth in HPC and AI cloud services. The article also places Bitdeer’s strategy in contrast with peers such as MARA Holdings, Riot Platforms, and Strategy, all of which continue to hold substantial Bitcoin reserves, while highlighting the broader industry pivot toward AI and high-performance computing infrastructure.

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Why Bitdeer Sold All of Its Bitcoin Treasury and Shifted Toward Cash, Infrastructure, and AI Growth