Bitdeer’s Bitcoin Balance Hits Zero After Total Sell-Off – Details

The move follows weeks of steady disposals and comes as the company pursues fresh capital to fund expansion plans outside pure mining.

By the time the transactions were settled, no crypto remained in corporate custody. Reports say this drawdown gathered pace after Bitdeer unveiled plans to raise more than $300 million through convertible notes.

The stock market responded quickly. Shares slid about 15% after the disclosures, reflecting concern over dilution and rising debt obligations. While miners often sell part of their production to cover operating costs, a full liquidation of reserves is rare. That distinction has fueled debate among investors about what the decision signals.

Gains didn’t last long. BTC ticked up after the SC ruling but later met selling pressure as markets weighed the impact and Trump signaled new tariff options.

The overall pattern points to range-bound trading, with macro headlines guiding short-term direction rather than a strong breakout.

Some analysts argue this is a practical response to tighter mining economics, where power costs and equipment upgrades strain margins.

Others view the complete sale as a bold pivot away from the “hold and wait” model embraced by certain competitors.

The company has not signaled a permanent exit from holding Bitcoin in the future, but for now, its balance sheet stands empty of the asset it produces.

Featured image from Unsplash, chart from TradingView