In a stunning display of what could only be described as audacity mixed with a sprinkle of bewilderment, Bitcoin miner Bitdeer has proclaimed that their decision to liquidate their Bitcoin holdings is as concerning for the broader market as a cat announcing it’s taken up knitting. Which is to say, not at all.
Bitdeer’s Bitcoin Holdings Have Hit Zero
On Saturday, in a tweet that echoed through the digital ether like a mildly interesting rumor, Bitdeer revealed its latest weekly update. It turns out that they mined 189.8 BTC during this period, which sounds impressive until you realize they sold it all off faster than a kid at a candy store. Consequently, their net holdings plummeted to a rather dismal zero. Bravo, Bitdeer, Bravo!
Operating out of Singapore, and apparently with facilities scattered across the globe like confetti, Bitdeer has been busy mining away in the US, Norway, Bhutan, and probably your backyard too. Their “Hashrate” is reportedly the largest among public miners, clocking in at an eye-watering 63.2 EH/s-because why not aim for the stars when one can aim for exahashes?
Once upon a time, Bitdeer was the conservative type, hoarding some of its weekly BTC output like a squirrel saving acorns for winter. But now, they’ve done a complete U-turn, opting instead to liquidate every Bitcoin they lay their hands on. What a plot twist! It seems they’re evaluating land acquisition opportunities, likely because owning land is definitely more exciting than just sitting on a pile of electronic coins.
On Monday, Bitdeer took to X (formerly Twitter, for those keeping score) to reassure everyone that their liquidation should cause about as much concern as a dog wearing sunglasses. “Our decision to sell Bitcoin should not be a concern for the broader market,” they stated, while possibly snickering behind the scenes. They also mentioned they’re gearing up for liquidity because acquiring land is apparently a thing now.
But wait, there’s more! Bitdeer is dabbling in AI infrastructure with its shiny new venture, “Bitdeer AI.” Clearly, they’ve decided that mining Bitcoin wasn’t quite complex enough and thought, “Hey, let’s throw in some artificial intelligence!” Meanwhile, Cango, the fifth largest miner, unceremoniously dumped 4,451 BTC earlier this month to chase the AI dream. Because who needs Bitcoin when you can have algorithms?
Bitfarms, another contender in this high-stakes game, has plans to wind down its mining operations in favor of high-performance computing. Talk about a mid-life crisis! But don’t worry, Bitdeer assures us they will continue to mine Bitcoin for the interest of their shareholders, demonstrating a commitment that rivals that of a soap opera character.
BTC Plunges To Low $64,000 Levels Before Bouncing Back
As if this rollercoaster ride needed more twists, Bitcoin kicked off the week with price fluctuations worthy of a dramatic series finale, diving down to around $64,300 before bouncing back to $66,100. One can only wonder if it’s auditioning for a role in a financial thriller.
The chart below captures this latest episode in the ongoing saga of cryptocurrency volatility, aptly timed for maximum suspense.
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2026-02-23 18:22