Bitdeer’s Bitcoin Treasury: A Grand Gesture of Financial Ingenuity?

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Key Highlights

  • Bitdeer, with the audacity of a man betting his last coin on a roulette wheel, sold every Bitcoin it owned-leaving its corporate treasury as barren as a desert at noon.
  • The company now seeks $300 million via convertible notes to fund ventures as ambitious as a poet’s first sonnet: data centers, AI clouds, and mining hardware.
  • The Bitcoin mining sector, once a lumberjack of digital gold, now dons a lab coat to play with AI and servers-because who doesn’t want to be a tech bro?

In a move that would make even the most jaded Wall Street analyst raise an eyebrow, Bitdeer has liquidated its entire Bitcoin stash, transforming its treasury into a museum of zero. This is the kind of financial strategy that makes one wonder if the company’s accountants were paid in Monopoly money. The firm sold not just freshly mined Bitcoin but also its old reserves, a decision as common as a snowstorm in July-rare, and likely to leave everyone shivering.

According to their latest report, Bitdeer’s “pure holdings”-a term as vague as a politician’s promise-now sit at 0 BTC. During this period, they mined 189.8 BTC and sold it all, as if Bitcoin were a perishable good. They also offloaded 943.1 BTC from their previous stockpile, a number so large it makes one question whether they ever intended to hold onto anything at all. Just weeks prior, they still clung to those 943.1 BTC, selling only a fraction of their new coins-a timid waltz compared to their current tango with bankruptcy.

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

– Bitdeer (@BitdeerOfficial) February 21, 2026

Most Bitcoin miners sell enough coins to pay the lights and rent, keeping a few in reserve like a squirrel hoarding nuts. But Bitdeer? They’ve burned their bridges, sold their nuts, and now stare at the horizon with the existential dread of a man who just realized he’s out of snacks. Fully liquidating reserves is as rare as a vegan steakhouse, and yet here we are.

Meanwhile, the company announced a $300 million convertible note offering, a financial sleight of hand that allows them to potentially raise an additional $45 million. These notes, due in 2032, can be converted into stock, cash, or a mix of both-a gamble as thrilling as a Russian roulette with extra paperwork. The funds will be used for “data center expansion, AI cloud growth, mining hardware development, and general corporate needs.” In other words, the company is now a magician turning mining rigs into cloud servers, with a side of AI and hope.

Following this revelation, Bitdeer’s shares tumbled like a bear in a stock market. At the time of writing, they traded at $7.78, down 2.02% in the last day, according to Yahoo. One wonders if the bears are laughing.

Mining Sector’s Midlife Crisis: Embracing AI and Data Centers

Founded in 2013 by Jihan Wu, Bitdeer has spent the last decade evolving from a mining hardware seller to a self-mining entity, much like a chef who burns out and starts cooking for himself. As demand for mining machines dwindled, the company chose to mine Bitcoin itself rather than sell the rigs-a decision as practical as a pirate choosing to hoard maps instead of gold.

This pivot arrives as the mining sector, post-2024 halving, grapples with diminishing returns. Miners, once the kings of crypto, now dabble in AI and cloud services like a teenager trying to fit in at a parent’s cocktail party. MARA Holdings, for instance, recently acquired a chunk of Exaion, while others-HIVE, Hut 8, TeraWulf-have repurposed mining facilities into AI data centers. CoreWeave, meanwhile, has fully committed to AI infrastructure, a move as bold as declaring war on the moon.

And so, Bitdeer joins the circus, selling its Bitcoin to buy a ticket to the future. Whether this is a masterstroke or a tragicomedy remains to be seen. But in the world of crypto, where fortunes rise and fall faster than a hot-air balloon in a hurricane, even the most calculated moves feel like a roll of the dice.

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2026-02-23 01:18