The company has been whittling down its BTC holdings since early 2026. The decision has drawn much concern as institutional holders of Bitcoin typically employ a HODL strategy.
Bitdeer’s total Bitcoin liquidation
The Bitcoin mining giant Bitdeer has officially cleared its Bitcoin treasury. The company liquidated 943.1 BTC from its holdings and an additional 184 BTC that it had mined over the weekend of February 21, 2026.
The financial data on Bitdeer’s holdings show a steady decline that led up to this final sale. The company started 2026 with approximately 2,000 BTC, but by the end of January, that number had dropped to 1,530 BTC. By February 13, it sat at 943.1 BTC before the final liquidation this past weekend.
Bitcoin is currently trading between $65,000 and $68,000, a significant drop of nearly 50% from the token’s October all-time highs. The price decline, combined with the fact that Bitcoin mining profits have hit record lows, led to speculations that Bitdeer was having a potential liquidity crisis.
However, the company moved quickly to dismiss these concerns, instead explaining that the liquidation is a calculated move to fund a massive expansion.
Bitdeer also recently announced a $43.7 million equity offering and a convertible note agreement that could be worth up to $325 million.
In an official statement, Bitdeer explained that it is currently evaluating several “non-binding powered land acquisition opportunities.” The company is redirecting its money toward artificial intelligence (AI) and high-performance computing (HPC), two far more attractive businesses than traditional Bitcoin mining.
Industry data suggests that AI infrastructure can generate between three to twenty-five times more revenue per megawatt of power than mining. Furthermore, profit margins for AI workloads often stay between 80% and 90%. Other major firms, such as Core Scientific and Cipher Mining, have also been signing massive deals to host AI chips for tech companies.
In the same statement, the company assured its shareholders that its hashrate will continue to grow. The company’s self-managed hashrate has already grown to the point where it surpasses MARA (formerly Marathon Digital), making Bitdeer the largest publicly traded miner by self-operated capacity.
Bitdeer retains its global hashrate lead despite liquidating BTC holdings. Source:
Bitdeer accelerates growth plan
Cryptopolitan reported in January that Bitdeer Technologies Group surpassed MARA Holdings to become the Bitcoin miner in the market by total hashrate. The milestone was the result of an aggressive expansion plot that saw the firm shoot up the rankings from October 2025, when it became the fifth-biggest crypto mining company in terms of hash rate power.
The firm faced a minor setback in November when a fire damaged two buildings at its Bitcoin mining complex in Massillon, Ohio.
Bitdeer’s chairman and chief executive officer, Jihan Wu, confirmed the fire on X, writing, “Two buildings (of 26) down and no people hurt. Senior management team is running there and will investigate further.”
“Bitdeer reported 71 EH/s capacity as of end December (~6% of global hash rate), +18% m/m, +229% y/y,” VanEck Head of Research Matt Sigel said on X at the time. “Like other miners, they are actively selling everything they mine (and more) to fund the AI pivot.”
Bitdeer’s decision to sell all its Bitcoin is being regarded as one of the clearest signs yet that the “HODL” strategy is fading for public companies.
