Singapore-based crypto miner Bitdeer has sold 943.1 bitcoin, fully liquidating its corporate treasury as of 20 February as it pivots towards infrastructure expansion and AI-driven growth.
The sale, disclosed in a weekly operational update, included 189.8 BTC mined during the week and 943.1 BTC drawn from reserves, leaving the company with zero pure corporate bitcoin holdings excluding customer deposits.
The transaction concludes an eight-week drawdown that began in late December 2025 when Bitdeer held around 2,017 BTC, with the company steadily selling more bitcoin than it produced and adopting a same-week sales approach for newly mined coins.
Before exiting its holdings, Bitdeer ranked as the 51st largest publicly traded bitcoin treasury firm just ahead of Ming Shing Group, but that position has now been erased as the company clears its balance sheet of digital assets.
Bitdeer has simultaneously launched an aggressive refinancing drive, pricing an upsized $325 million 5.00% convertible senior notes offering due 2032 and completing a $43.7 million registered direct stock sale, with proceeds earmarked for data centre buildouts, AI and high-performance computing initiatives, ASIC development and general corporate purposes, and following the announcement the Bitdeer share price was down at $XX.
By early 2026 Bitdeer’s self-mining hash rate had surpassed 63 exahash per second, reflecting continued operational expansion across facilities in the United States, Canada, Norway and Bhutan despite the wind-down of its bitcoin treasury strategy.
The broader listed mining sector is increasingly diversifying into AI colocations and high-performance computing services as block rewards shrink and competition intensifies, positioning Bitdeer’s treasury exit as a calculated liquidity reset that will hinge on execution against a balance sheet carrying roughly $1 billion in borrowings.
At the time of reporting, Bitcoin price was $67,482.02.