Bitdeer Technologies Abandons BTC Reserve Amidst Mining Margins Crisis

Bitdeer Technologies, a leading self-miner, has undergone a significant transformation by liquidating its entire bitcoin reserve. As of February 20th, the company no longer holds any BTC on its balance sheet, having sold off approximately 2,000 coins.

The move comes as Bitcoin network difficulty surged 14.7%, marking the largest increase since May 2021. This significant jump has crushed mining margins, making it challenging for companies to maintain a bitcoin treasury.