Mining Giant Bitdeer Sells Off All Bitcoin Holdings, Choosing AI Over Cryptocurrency?

▲ Bitcoin (BTC), cryptocurrency mining, artificial intelligence (AI)/ChatGPT-generated image ©

Major mining company Bitdeer Technologies Group has sold all of its Bitcoin (BTC) holdings, reducing the amount recorded on its balance sheet to zero. The move is interpreted as a bold step beyond merely covering operating expenses, aimed at expanding into new businesses such as artificial intelligence (AI) and data centers.

According to cryptocurrency media outlet Bitcoinist on Feb. 22 (local time), Bitdeer disposed of 189.8 BTC recently mined and 943.1 BTC that had been held long term by February 2026. The full-scale sell-off came shortly after the company announced plans to raise funds through the issuance of over $300 million in convertible bonds, and it currently holds no cryptocurrency in its corporate treasury.

While it is common for mining companies to sell part of their production to cover operating costs, liquidating all reserves is extremely unusual. The market reacted immediately with concerns over share dilution and increased debt, sending Bitdeer’s stock down about 15%. The company plans to use the proceeds from the sale to expand its data centers, develop AI-related services, and advance its own application-specific integrated circuit (ASIC) technology. Rather than holding onto coins indefinitely in an increasingly unprofitable mining environment, Bitdeer has opted to secure immediate liquidity.

As news of the complete sell-off spread, Bitcoin’s price movements have also been swayed by geopolitical variables and macroeconomic indicators. Rising tensions between the United States and Iran sparked safe-haven demand, briefly pushing Bitcoin above $68,000, but profit-taking quickly followed, driving prices back down.

Additionally, after the U.S. Supreme Court ruled parts of President Donald Trump’s tariff policy unconstitutional, risk assets saw a modest rebound. However, gains were short-lived as Trump signaled the possibility of new tariff measures. Bitcoin is currently trading around $67,617, continuing to move within a range-bound market without a decisive breakout, influenced by short-term macroeconomic issues.

Some analysts view Bitdeer’s decision as a realistic response reflecting the harsh realities of the mining industry, where margins are being squeezed by rising electricity costs and ongoing equipment upgrades. Although Bitdeer has not declared that it will permanently abandon holding Bitcoin, the core asset it produces will, for the time being, no longer appear on its balance sheet.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses resulting from it. The content should be interpreted solely for informational purposes.*