Bitdeer Unloads Entire Bitcoin Holdings Amid $1 Billion Investment Push

Bitdeer Technologies Group (BTDR) has sold all its Bitcoin holdings after announcing a $1 billion investment, according to a recent update from the company. This move comes after a week of refinancing activity and capital raises, which included a $43.7 million registered direct share offering and a convertible notes package of up to $315 million.

The company disclosed that it had produced and sold 189.8 BTC during the period, resulting in a net BTC addition of negative 943.1 BTC. This change in policy comes after Bitdeer reported $149.4 million in cash and equivalents and $1 billion in borrowings in its Q4 earnings call.

The company's shares closed at $7.78 on Friday, down by 2.02%, before rising 1.15% to $7.87 in after-hours trading. Over the past year, BTDR shares have fallen more than 40%. Bitdeer has not stated whether this is a long-term change in its treasury policy.