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Bitdeer Sells Over 1,500 Bitcoin for $105 Million Amid Strategic Shift
Bitdeer Technologies, a NASDAQ-listed cryptocurrency mining company, sold 1,506 Bitcoin in August 2026, generating approximately $105 million. This sale marks a significant increase from July, when the company offloaded 1,083 Bitcoin. As a result of this aggressive selling strategy, Bitdeer's Bitcoin reserves plummeted from 257 BTC to just 61 BTC by the end of August.
The firm has implemented a 'zero-treasury policy' since February 2026, which involves converting nearly all mined Bitcoin into cash to finance its expansion into artificial intelligence cloud infrastructure and high-performance computing. In August alone, Bitdeer mined 1,310 Bitcoin, reflecting a 249% increase compared to the same month last year. However, the company sold more Bitcoin than it mined, indicating that it also tapped into its existing reserves to meet its sales targets.
Bitdeer's pivot towards AI has already shown promising results, with its AI cloud business reporting annualized recurring revenue of approximately $86 million in August, up from $76 million in July. A key component of this strategy is a 16-year lease agreement in Norway valued at $4.7 billion, which could potentially expand to $8 billion based on future milestones. This strategic shift not only mitigates Bitcoin price risk for Bitdeer but also places significant selling pressure on the broader cryptocurrency market.
Source: KLEA News