Bitdeer Sells All Its Bitcoin Holdings—Why Now?

▲ Bitcoin Mining ©

Cloud mining company Bitdeer has sold all of its Bitcoin holdings, reducing its Bitcoin balance on its financial statements to zero.

According to cryptocurrency media outlet Finbold on February 23 (local time), Singapore-based cloud mining platform Bitdeer (Nasdaq: BTDR) sold 943.1 BTC it had been holding, along with 189.8 BTC mined over the past week. As a result, the company has fully liquidated its Bitcoin treasury. The company stated that the sale does not affect user assets and is “not a matter of concern for the broader market.”

Bitdeer explained that the full liquidation was aimed at securing funds for a “non-binding power site acquisition opportunity,” describing it as a prudent step to proactively ensure liquidity. The company also announced in a press release on February 20 that it is conducting a public offering of 5.5 million Class A ordinary shares to raise capital for business expansion.

The company is pushing to transition from a Bitcoin mining firm to an artificial intelligence (AI) infrastructure provider. CoreWeave (Nasdaq: CRWV), once a Bitcoin-focused company, has transformed into an AI data center operator and now receives substantial backing from Nvidia (Nasdaq: NVDA), placing it at the center of the “AI bubble” debate. However, market concerns persist regarding excessive capital expenditures in AI infrastructure and the lack of a clear profitability roadmap.

Bitdeer’s decision comes as Bitcoin remains significantly below its peak. After surpassing an all-time high of $125,000 in October 2025, Bitcoin has fallen about 47%. Between the night of February 22 and 23, the price plunged below $65,000 before partially rebounding, and it was trading at $66,323 at the time of writing.

Bitdeer’s stock declined 2.02% in the most recent regular trading session and has fallen 32.64% year-to-date in 2026 to $7.78. With Bitcoin’s price correction coinciding with its business transformation, the company’s strategic decisions are being put to the test in the market.

Disclaimer: This article is for investment reference only and the publisher is not responsible for any investment losses arising from it. The content should be interpreted solely for informational purposes.