Mining company Bitdeer, founded by Jihan Wu, reported in its weekly update that it has sold all mined and held coins—approximately 943.1 BTC (around $64 million at the time of writing).

Bitdeer #BTC Weekly Update

🔹 BTC Holdings: 0 (pure holdings, excluding customer deposits)
🔹 BTC Output: 189.8 BTC
🔹 BTC Sold: 189.8 BTC
🔹 Net BTC Added: -943.1 BTC
📅 Data as of February 20, 2026.#Bitcoin #BTC #BitcoinHoldings #BitcoinCommunity #BTCMining $BTDR pic.twitter.com/vtvBVEui0Q

— Bitdeer (@BitdeerOfficial) February 21, 2026

Of this amount, the company mined 189.9 BTC over the past week.

As of February 20, the firm has no Bitcoin left on its balance sheet, aside from customer deposits.

In recent weeks, Bitdeer has been actively selling Bitcoin, but in much smaller volumes. Typically, the miner only sold mined coins.

According to a January report, the company's hash rate reached 63.2 EH/s (+14% since December). Last month, it mined 668 BTC.

Data from BitcoinMiningStock indicates that Bitdeer has surpassed the previous leader, MARA Holdings (currently at 61.7 EH/s). Thus, Jihan Wu's firm has become the largest public miner by hash rate.

Source: BitcoinMiningStock.

However, the company's stock is not faring well. Over the past month, BTRD shares have dropped by 46%.

Source: Yahoo.Finance.

Challenging Times

Miner revenues have significantly declined since October 2025. At that time, the figure was $1.59 billion, but it fell to $1.12 billion in January.

Monthly miner revenue. Source: Newhedge.

In this environment, miners are forced to sell mined assets and sometimes even reserves, as seen with Bitdeer.

According to CryptoQuant, the influx of funds to cryptocurrency exchanges has recently been driven by large holders, as the market "remains in a bearish phase." The share of whales has increased to 0.64, reaching its highest level since October 2015.

Source: CryptoQuant.

Meanwhile, the average daily influx of Bitcoin to trading platforms in February rose to 1.58 BTC—a record since June 2022.

Experts noted that the acute phase of selling has eased, despite consistently high inflows to exchanges compared to previous months.

On February 19, following another recalibration, Bitcoin mining difficulty increased by 14.73%—to 144.4 T.