📰 Bitdeer has sold all 300.6 BTC it mined this week. According to the company’s weekly update on X, as of October 9, its net increase in Bitcoin holdings this week was 0, and its Bitcoin holdings remained at 0. This figure excludes customer deposits.
🔥 Honestly, seeing “zero holdings” can easily make you wonder if the mining company has turned bearish. But all this update confirms is that it sold all the coins it produced this week. It doesn’t say why the coins were sold or how the proceeds will be used, so it’s a bit hasty to jump to the conclusion that the company is bearish.
What caught my attention this time is that the production and sales figures match exactly: it mined 300.6 coins and sold 300.6 coins, keeping none of the newly mined coins this week. For people who are used to buying and holding for the long term, this approach is quite a contrast.
💡 It’s also important to be clear about what “sold all” means. It refers to the BTC produced this week; the zero-holdings figure explicitly excludes customer deposits. Reading these two details correctly helps avoid interpreting a mining company’s weekly update as a much larger sell-off.
🤔 If you owned shares in a mining company and saw it sell all the BTC it mined that week, would you care more about whether it kept any coins, or first want to know how it plans to use the proceeds?
#BTC #Bitdeer #BitcoinMining
🔥 Honestly, seeing “zero holdings” can easily make you wonder if the mining company has turned bearish. But all this update confirms is that it sold all the coins it produced this week. It doesn’t say why the coins were sold or how the proceeds will be used, so it’s a bit hasty to jump to the conclusion that the company is bearish.
What caught my attention this time is that the production and sales figures match exactly: it mined 300.6 coins and sold 300.6 coins, keeping none of the newly mined coins this week. For people who are used to buying and holding for the long term, this approach is quite a contrast.
💡 It’s also important to be clear about what “sold all” means. It refers to the BTC produced this week; the zero-holdings figure explicitly excludes customer deposits. Reading these two details correctly helps avoid interpreting a mining company’s weekly update as a much larger sell-off.
🤔 If you owned shares in a mining company and saw it sell all the BTC it mined that week, would you care more about whether it kept any coins, or first want to know how it plans to use the proceeds?
#BTC #Bitdeer #BitcoinMining