Miners in the Headlines: Bitdeer Sells Bitcoin — Are Miners Pressuring the Market in 2026?

Disclaimer: This material is for informational purposes only and does not constitute investment advice.

In February 2026, the market’s old reflex kicked in again: miners are selling so everything is about to crash. The trigger was news that Bitdeer sold its entire BTC reserve (943.1 Bitcoin) bringing its balance to zero. The company explained that this was part of its financial strategy and liquidity preparation (including acquiring powered sites and expanding into data centers/AI).

The question that truly matters for investors is: when does miner selling actually pressure price and when is it just a convenient headline narrative?

What Bitdeer Did and Why It Became a Story

According to media reports, Bitdeer sold the remaining 943.1 BTC from its treasury and separately liquidated newly mined coins (figures of roughly ~184–190 BTC over the period were mentioned), effectively switching to a “mine → sell” mode.

Why this drew attention:

• Bitdeer publicly emphasized that a zero BTC balance is not necessarily permanent (a position reflected in comments from its CEO).
• The news fits into a broader trend: miners are seeking new revenue sources (AI/HPC, data centers, infrastructure), and they need liquidity to fund that shift.

Do Miners Pressure Price?

Sometimes — yes, but not automatically.

In 2026, BTC price often moves according to broader regimes: risk-on/risk-off, ETF flows, dollar/rates, derivatives mechanics. Miner selling is one source of supply, but it becomes relevant only under certain conditions.

When Miner Selling Becomes a Real Problem

1) When Selling Is Synchronized Across the Industry

One company selling ~$60–65 million in BTC does not necessarily break the market. But if a meaningful share of miners sell simultaneously, supply becomes systemic.

2) When Liquidity Is Thin

If the market is already in risk-off mode and volumes are weak, any additional supply amplifies moves. This is especially visible during sharp selloffs when derivatives trigger cascades.

3) When Sales Hit the Market Directly

It’s not just that a miner sold — it’s where the coins went:

• if coins move to exchanges/market sales — that’s pressure;
• if sales happen OTC or via internal optimization — the impact may be softer.

When “Miners Are Selling” Is Just Noise

1) When Selling Is Part of Financial Strategy

Bitdeer explicitly ties the sale to liquidity management and expansion financing. In that logic, selling does not mean “we don’t believe in BTC”. It means “we need cash right now”.

2) When Other Flows Dominate

If large ETF/fund flows or a broader risk regime are driving the market, miner impact gets diluted. In February 2026, for example, markets were actively discussing pressure from ETF outflows — a larger supply/demand lever.

6 Indicators of Miner-Driven Pressure

1) Miner Reserves (Not Just One Day)

Watch the trend: are reserves declining for weeks, or is it a one-off reduction?

2) Exchange Inflows

If transfers from miner wallets to exchanges increase, selling pressure becomes more likely.

3) Hashrate and Difficulty

If hashrate holds or rises while sales continue, it often looks like operational financing rather than industry capitulation. (Debate continues: does rising hashrate signal strength, or are miners still capitulating?)

4) Cost of Production and Margins

If price stays below comfortable economics for part of the mining sector, sales become forced rather than strategic.

5) Price Reaction: Is the Market Absorbing Supply?

If the market digests sales without accelerating declines, demand/liquidity may be stronger than headlines suggest.

6) Broader Regime Context

Risk-off + strong dollar + weak ETF flows = an environment where any sales feel heavier.

A simple test: if there is no industry-wide effect after the news (reserves, exchange flows, broader miner data), then it’s likely a corporate decision rather than systemic pressure.

How Not to Turn Such News Into Costly Mistakes

The main problem with miner headlines is that they provoke impulsive decisions: sell before it’s too late or short because miners know something. That is almost always a poor trade — you are trading emotion, not market structure.

If you are an investor, it is more productive to monitor reserves and flows than to react to a dramatic “miners are selling” headline.