Bitdeer Technologies has confirmed that it has sold all of its Bitcoin holdings, emphasizing that the decision reflects liquidity management rather than a loss of confidence in the asset. The Singapore based mining company said converting newly mined Bitcoin into cash allows it to stay financially flexible as it evaluates potential acquisitions of powered land, which require capital to be ready before agreements are finalized.
Despite holding no Bitcoin on its balance sheet, Bitdeer continues to expand operations. The company has increased its self mining capacity to more than 63 EH per second and significantly boosted year over year production. It stated that selling its output should not be viewed as a negative signal for the broader market, adding that its hash rate and mining activity will continue to grow for the benefit of shareholders.
This approach differs from the treasury strategy adopted by companies such as Strategy, which treat Bitcoin as a long term reserve asset. Instead, Bitdeer appears focused on redeploying capital into expansion initiatives, including a push into artificial intelligence and high performance computing infrastructure. Transforming mining facilities in the United States and Europe into AI ready data centers and deploying large scale GPU systems requires substantial upfront investment, which helps explain the decision to liquidate its Bitcoin reserves.
While other public miners including Riot Platforms, Bitfarms, and Core Scientific have sold portions of their holdings or diversified into AI to stabilize revenues, Bitdeer’s complete exit from holding Bitcoin sets it apart. Many competitors still maintain significant treasuries, such as MARA Holdings with more than 53,000 BTC and Riot Platforms with close to 18,000 BTC.
