Bitdeer has decided to sell all coins mined during the week ending May 29th. This led the company to maintain a zero balance policy. More than 206 were mined. $BTC All items were sold out during the period. However, this does not apply to customer deposits.
The largest cryptocurrencies are dealing with intense selling pressure, and Bitdeer added to it. Bitcoin price has fallen 16% since the beginning of the year. The Fear and Greed Index is giving us a big warning. The index fell into the “fear” category with 33 points.
Bitdeer chooses cash over Bitcoin
Bitdeer’s treasury was last emptied at the end of February. Bitcoin mining company started the year at about $2,000 $BTC. I spent it all in an 8-week liquidation period.
In the last week of the Treasury drawdown, Bitdia sold an additional $943.1. $BTC We have reserves that exceed normal production and sales. Bitdia claimed at the time that this was a liquidity issue due to infrastructure investments and not a bearish decision on the Bitcoin price.
Three months later, Bitdeer’s zero balance financial policy remains unchanged. For each weekly update since February, Bitdeer has mined and sold all content. $BTC The assets held will be zero on the balance sheet at the end of each week. TechFlow called Bitdeer an “instant mine, instant sell” company, contrasting it with a company that adds everything that is mined. $BTC as a long-term balance sheet asset.
Bitdeer is not a small operation. The company raised its hashrate to 63.2 EH/s earlier this year, generating a hashrate of 783. $BTC Even just in April. However, it has all been sold. It’s a highly unusual trend for major mining companies to sell all of their mine output for more than three months, and it sends a clear message to investors. That means its operating costs are higher than the reason for holding production back.
Bitdeer used this funding to expand its business. Earlier this year, the company raised $325 million in convertible debt and $43.5 million in equity to develop data centers, build a new generation of ASICs, and enter AI cloud services. The Tydal facility in Norway has been developed as an AI data center, with AI cloud services revenue exceeding $69 million in annualized utilization.
Bitdeer sells as rivals pile up $BTC
Bitdeer’s Zero –$BTC It appears to be taking a tough stance against its biggest competitor. MARA Holdings maintains approximately 53,250 safes. $BTCRiot Platforms houses approximately 18,000. $BTCStrategy (formerly MicroStrategy) is present in over 717,000. $BTCaccording to Bitcoin Magazine.
This divergence raises questions that markets are not fully pricing in. If the miners who actually produce Bitcoin choose not to hold it, what happens to the risk-reward calculation for companies that buy it on the open market?
BitDeer has not disclosed whether it plans to rebuild its financial position. Revenue for the first quarter of 2026 was $188.9 million, an increase of approximately 170% year-on-year, but the company’s net loss was $159.5 million. According to Bitcoin Magazine, gross margins have already shrunk to 4.7% in the fourth quarter of 2025, down from 7.4% in the same period last year.
Stock prices rose regardless. BTDR rose about 14% on May 28, rising from low $12 at the beginning of the month to $17.75.
