Bitdeer sells 1,506 Bitcoin for $105M in August as zero-treasury policy drains reserves to 61 BTC
The mining giant is converting nearly every Bitcoin it produces into cash to fund an aggressive push into AI cloud infrastructure and high-performance computing.
Bitdeer Technologies dumped 1,506 Bitcoin in August, pocketing roughly $105 million and leaving just 61 BTC on its balance sheet.
The sale represents a sharp increase from July, when Bitdeer offloaded 1,083 BTC. By the end of August, the firm’s Bitcoin reserves had cratered from 257 BTC to 61 BTC.
The zero-treasury playbook
Bitdeer adopted what it calls a “zero-treasury policy” back in February 2026, when it liquidated approximately 2,000 BTC from its reserves in one fell swoop. Since then, the NASDAQ-listed miner has sold its freshly produced Bitcoin on a weekly cadence, converting digital assets into cash almost as fast as the machines can mint them.
In the final week of August alone, Bitdeer sold 273.5 BTC, consistent with the weekly sell-off rhythm it has maintained for months. The company mined 1,310 BTC during the month, a 249% year-over-year increase from roughly 375 BTC in the same period last year. That production figure reflects a self-mining hash rate of approximately 79.9 EH/s.
The gap between Bitcoin mined (1,310) and Bitcoin sold (1,506) suggests Bitdeer dipped into existing reserves to top up the sales, which explains why holdings dropped from 257 to 61 BTC.
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Where the money is going: AI and a $4.7B Norway deal
Bitdeer’s AI cloud business posted annualized recurring revenue of roughly $86 million in August, up from $76 million in July, a 13% month-over-month increase.
The crown jewel of this pivot is a 16-year lease agreement in Norway valued at $4.7 billion, with the potential to scale to $8 billion depending on expansion milestones.
What the strategy means for investors and the market
The zero-treasury policy effectively removes Bitcoin price risk from Bitdeer’s balance sheet. If BTC drops 30% tomorrow, Bitdeer’s exposure is limited to whatever it mined that week and hasn’t yet converted.
For the broader mining sector, Bitdeer’s monthly sell pressure is worth watching. Offloading 1,506 BTC in a single month puts meaningful supply on the market, and it is happening like clockwork.
The Norway contract could be the most consequential data point in the entire August report. A $4.7 billion deal with potential to reach $8 billion dwarfs anything happening on the mining side of the business.