Bitdeer sells entire Bitcoin treasury, raises capital, targets AI and data center expansion, while reporting zero BTC holdings after liquidation.
Bitdeer Technologies confirmed a full exit from its corporate Bitcoin treasury. Accordingly, the miner reported holding 0 BTC as of Feb. 20. The disclosure was revealed in a weekly production update shared on X.
Bitdeer Liquidates Bitcoin Treasury Reserves While Expanding Funding Strategy
The company had produced 189.8 BTC in the reported week period. It achieved the same sale, production with immediate liquidation. Furthermore, Bitdeer also unwound its remaining 943.1 BTC reserves all the way.
Bitdeer #BTC Weekly Update
🔹 BTC Holdings: 0 (pure holdings, excluding customer deposits)
🔹 BTC Output: 189.8 BTC
🔹 BTC Sold: 189.8 BTC
🔹 Net BTC Added: -943.1 BTC
📅 Data as of February 20, 2026.#Bitcoin #BTC #BitcoinHoldings #BitcoinCommunity #BTCMining $BTDR pic.twitter.com/vtvBVEui0Q— Bitdeer (@BitdeerOfficial) February 21, 2026
Overall, the treasury action ended in sales of 1132.9 BTC in total. At prices close to $68,000, $64 million to $77 million in proceeds were made. Importantly the figures did not include customer deposits held on behalf of clients.
The move came after Bitdeer announced a $300 million convertible note offering. Management added an option of raising the sale to $45 million. The notes are due in 2032 with options for conversion to equity or cash.
Shares of BTDR suffered as investors looked at dilution and liquidity implications. Convertible notes provide capital in a short time but can increase the number of stock holders in the future. However, the structure can provide better flexibility in volatile mining conditions.
Bitdeer said the proceeds will go toward expanding throughout data centers and AI cloud operations. The plan also supports the mining hardware research and general corporate activities.
Bitdeer Reaches 63.2 EH/s, Claims Self-Managed Hashrate Lead
The company has a level of self-managed hashrate of 63.2 EH/s. This figure put Bitdeer ahead of MARA Holdings in terms of capacity. Meanwhile, operations continued in spite of changes in the treasury and adjustments to funding which had recently been made.
The decision provides a shift from the usual miner holding strategy. Instead, management focused on liquidity, infrastructure scaling, and business diversification priorities. Industry participants are continuing to monitor whether peers are adopting similar treasury approaches.
Market conditions, however, still remain sensitive to Bitcoin prices and mining economics. The lower margins frequently put pressure on miners to focus on cash flow stability. Therefore, treasury liquidations can be a reflection of risk management, as opposed to sentiment shifts.
Bitdeer used to hold back reserves as a cushion against operational volatility. Now, the balance sheet reveals the stronger emphasis on cash and less exposure to crypto. This adjustment comes in line with expansion goals throughout the computing and hosting segments.
Bitdeer Treasury Exit Reflects Broader Miner Trend
Importantly, customer assets continued to be kept off the books of treasury accounting and liquidation figures. The company clarified disclosures relate strictly to corporate-owned Bitcoin balances. Such separation promotes transparency and protects client custody arrangements in general.
Additionally, AI cloud investments could differentiate revenue from block rewards. Consequently, it seems that management is more interested in long-term infrastructure positioning and stability.
Regulatory filings and social updates gave investors better visibility into the operations. However, equity reactions reflected caution in terms of dilution, as well as changes in treasury strategy. Still, access to capital is essential in the competitive mining industry.
Going forward, Bitdeer’s performance will depend on execution, efficiency and market stability. Meanwhile, investors will be closely monitoring cash deployment, hashrate growth, and revenue diversification.
Ultimately, the exit of the treasury points to the changes that are transpiring within publicly traded Bitcoin-miners across the world. Therefore, resilience in cycles of price volatility global are increasing the decision of balance sheets.