Bitdeer’s Great Bitcoin Fire Sale: Panic or Genius?

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The Tale of the Empty Treasury

  • Bitdeer, with a gambler’s grin, dumps all its Bitcoin, claiming it’s just a “strategic move.”
  • Meanwhile, they’re begging for $300M to keep the lights on and the machines humming.
  • UAE’s Royal Group hoards Bitcoin like a squirrel with acorns, not selling a single satoshi.

In the dusty plains of the crypto frontier, where miners usually cling to their Bitcoin like a prospector to his gold nugget, Singapore’s Bitdeer has done the unthinkable. They’ve sold every last crumb of their 943.1 BTC treasury, including the 189.8 BTC they just mined. “Don’t worry,” they chirp, “it’s all part of the plan.” Sure, and I’m a kangaroo with a briefcase.

“Our decision to sell Bitcoin should not be a concern for the broader market,” Bitdeer declared on X, with all the conviction of a used-car salesman. They claim they’re just preparing liquidity for some “non-binding powered land acquisition opportunities.” Translation: We need cash, and we need it now. But don’t you worry, they assure us, their mining operations will keep growing. Because nothing says “growth” like selling the very thing you’re supposed to be mining.

Our decision to sell Bitcoin should not be a concern for the broader market. We are currently evaluating multiple non-binding powered land acquisition opportunities, and we believe it is prudent to prepare liquidity now. Our hash rate will continue to grow, and we will continue…

– Bitdeer (@BitdeerOfficial) February 23, 2026

What’s truly baffling is their zero-BTC policy. Most miners hold onto at least some Bitcoin, hoping the price will soar like a hawk on a thermal. But Bitdeer? They’ve gone all-in on cash, a move as unusual as a cowboy trading his horse for a unicycle. And yet, they insist it’s not desperation-just strategy. Right.

The Great Cash Grab

In addition to their fire sale, Bitdeer is planning to raise $300 million through a convertible note due in 2032. Because nothing says “financial stability” like borrowing money you won’t pay back for eight years. They might even tack on another $45 million, just for good measure. This cash, they say, will go toward expanding data centers, beefing up AI cloud services, and upgrading mining hardware. Or maybe they’ll just buy a few islands. Who knows?

Most miners sell just enough Bitcoin to cover their electricity bills and maybe a new graphics card. But Bitdeer? They’ve sold the farm, the tractor, and the kitchen sink. Yet, they swear their mining power will keep growing, churning out Bitcoin for their shareholders. It’s like a baker selling all his flour but promising to bake more bread. Sure, makes perfect sense.

The Miners and the Hoarders

Meanwhile, in the wild west of crypto, publicly listed mining companies are a mixed bag. Australia’s IREN sits atop the heap with a $13.26 billion market cap, though its shares recently took a 7.57% nosedive. U.S. miners like TeraWulf and Riot Platforms are holding steady, with minor daily drops but stable monthly patterns. Hut 8 and Cipher Mining are playing it cool, with smaller drops and a bit of volatility. It’s a circus out there, folks.

On the other side of the ring, private entities like the UAE’s Royal Group are hoarding Bitcoin like it’s the last can of beans in the apocalypse. Since 2022, they’ve mined 6,782 BTC through Citadel Mining, using Foundry Digital pools. Not a single satoshi has been sold. These energy-rich nations are playing the long game, stockpiling Bitcoin like it’s the new gold standard. No exchanges, no middlemen-just pure, unadulterated hodling.

As of this writing, Bitcoin is trading at $65,637.89, down 3.41% in the last 24 hours. But hey, who’s counting? Certainly not Bitdeer-they’ve already cashed out.

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2026-02-23 12:36