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- Bitdeer has liquidated all its $BTC treasury balance.
- Approximately $233.22 million worth of bitcoins have been liquidated over the last 24 hours.
- $BTC price is down by 2.94% in 24 hours.
Bitdeer, a Bitcoin mining company, has reportedly sold all of its self-owned Bitcoin tokens. It has clarified its move and confirmed that it does not represent a broader scope. The development comes at a time when $BTC is trading below the $68k mark, and over $200 million worth of tokens have been liquidated in 24 hours.
$BTC Liquidated by Bitdeer
Bitdeer now effectively holds 0 $BTC after reducing its treasury balance through liquidation. The move was taken over the weekend, with all-time low Bitcoin mining profits coming up as one of the reasons.
Bitdeer earlier mined and sold almost 184 tokens along with 943.1 tokens belonging to its reserves. In fact, the mining firm commenced 2026 with 2k tokens and brought it down to 943.1 before a complete liquidation.
Bitdeer has published a post on X to explain its move. The company has clarified that its move does not represent a macro picture or reflect market sentiments in any manner. Its liquidation, per the post, comes as part of evaluating non-binding powered land acquisition opportunities.
It has confirmed that its hash rate will grow as usual, and it will mine more tokens for shareholders’ interest.
Bitcoin Tokens Liquidated in General
According to data from Coinglass, approximately $233.22 million worth of bitcoins have been liquidated over the last 24 hours. It includes short liquidation of almost $25.52 million and long liquidation of around $207.71 million. The collective liquidation of the crypto market currently stands at $507.37 million.
For a quick reference, $BTC is followed by ETH in terms of liquidation. Ether worth $128.71 million have been liquidated during the same time. However, trends and positions have changed over the last 1 hour from the time of drafting this article.
$BTC Price and Community Reaction to the Update
$BTC price is currently down by 2.94% in 24 hours at $66,165.22. It briefly traded at $64,416.81 before marking the jump. The price is also down by 3.82% in a week and 26.02% in a month.
As for the community reaction, some members have linked the move to the ongoing volatility or uncertainty in the crypto market. Some members are speculating that Bitdeer may have liquidated as it believes that the token will not surge.
Another member has put up a more balanced note by saying that $BTC can be bought and sold by anyone without major fundamental changes.
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