Bitdeer Sells Off Bitcoin Completely as Market Hits $65K

In a move that has sent ripples through the cryptocurrency mining world, Bitdeer Technologies has completely liquidated its Bitcoin holdings, reducing its corporate BTC balance to zero as of February 20, 2026. This bold decision marks a major pivot for one of the world’s most prominent crypto miners, signaling a shift from traditional HODL strategies toward liquidity-focused, diversified operations.

From Accumulation to Liquidation: Bitdeer’s Bold Step

Historically, cryptocurrency miners accumulated Bitcoin reserves, hoping to capitalize on long-term appreciation. Bitdeer’s latest operational update reveals a striking departure from that model. Newly mined Bitcoin totaling 189.8 BTC was sold instead of added to reserves, while legacy holdings of 943.1 BTC were fully liquidated.

In total, the company divested 1,132.9 BTC, leaving its balance sheet entirely free of Bitcoin. This is not just a tactical adjustment; it is a complete reset of corporate crypto strategy.

Why Bitdeer Sold: Market, Strategy, and Survival

Mining Economics Under Pressure

Bitcoin mining profits are closely tied to BTC prices, electricity costs, and network difficulty. Recent market conditions, including declining BTC prices and a higher network difficulty, have squeezed mining margins, making it riskier to hold large BTC reserves.

The timing of Bitdeer’s sale corresponds with Bitcoin trading around the mid-60,000 range, a significant dip from recent highs that impacted profitability.

Strengthening the Balance Sheet

Bitdeer has been actively raising capital, issuing convertible notes worth 300 to 325 million dollars to bolster operations. Selling BTC provided liquidity to reinforce the company’s financial stability while funding expansion into more stable, long-term ventures.

Strategic Diversification

Bitdeer is evolving beyond pure Bitcoin mining. Investments are being funneled into AI cloud services and high-performance computing infrastructure, expansion of data center capacity to increase operational leverage, and optimizing self-mining operations for better efficiency.

This shift from asset accumulation to infrastructure development highlights a forward-thinking approach in an increasingly competitive industry.

Risk Management in Volatile Markets

Bitcoin’s volatility can pose existential risks for miners reliant on holding BTC. Liquidating reserves allows Bitdeer to insulate itself from short-term price swings, giving the company flexibility to operate with reduced exposure.

Industry Implications: Shaping Mining and Market Psychology

Market Sentiment

Bitdeer’s BTC liquidation sends a psychological signal. Large-scale sales by a major miner can amplify short-term bearish sentiment, especially in a market already experiencing volatility.

Competitive Dynamics

Despite selling its treasury, Bitdeer has increased its self-mining hashpower, surpassing some peers. This illustrates a shift from balance-sheet accumulation to operational dominance, a model that prioritizes scale, efficiency, and resilience over holding digital assets.

Lessons for Other Miners

Bitdeer’s move may inspire peers to rethink their strategies. The era of hoarding Bitcoin might give way to a pragmatic model: secure liquidity, optimize mining infrastructure, and focus on sustainable growth rather than speculative holding.

Leadership Perspective: Flexibility, Not Abandonment

CEO Jihan Wu emphasized that selling Bitcoin does not rule out future holdings. Instead, it is a tactical decision, allowing the company to adapt dynamically to market conditions while funding its next phase of growth.

Emotional Undercurrents: The Human Side of Crypto Strategy

For many Bitcoin enthusiasts, miners selling their holdings can feel like a betrayal. Yet Bitdeer’s decision reflects the realities of operating in a volatile market. This is an honest acknowledgment of the challenges miners face, including shrinking margins, regulatory pressures, and operational costs.

Bitcoin believers may experience disappointment, but there is a critical lesson: survival in crypto is not about sentiment; it is about sustainability.

A Turning Point for Crypto Mining

Bitdeer’s full divestment represents a landmark in the evolution of crypto mining. It demonstrates a shift from accumulation-focused to liquidity-focused strategies, from reliance on volatile assets to investment in diversified infrastructure, and from speculative growth to operational resilience.

This bold pivot could redefine how miners operate in the coming years, setting a precedent for a more sustainable, professionalized industry.

Final Takeaway

Bitdeer’s BTC liquidation is far more than a financial maneuver. It is a statement about the changing landscape of cryptocurrency mining. In an environment where volatility is a constant, miners are increasingly balancing operational scale, technological investment, and financial prudence.

The move may unsettle maximalists, but it highlights a key truth: thriving in crypto requires adaptability. Bitdeer’s decision underscores the industry’s evolution, a shift from pure speculation to strategic, long-term thinking.

In this context, Bitdeer is not abandoning Bitcoin; it is repositioning for a future where sustainable operations, technological growth, and market resilience define success.