The post ‘Failed Experiment’: Are Bitcoin Treasury Companies Dumping BTC? Bitdeer Holdings Hit Zero appeared first on Coinpedia Fintech News SwanDesk CEO Jacob The post ‘Failed Experiment’: Are Bitcoin Treasury Companies Dumping BTC? Bitdeer Holdings Hit Zero appeared first on Coinpedia Fintech News SwanDesk CEO Jacob

‘Failed Experiment’: Are Bitcoin Treasury Companies Dumping BTC? Bitdeer Holdings Hit Zero

2026/02/23 20:45
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South Korea Set for First Public Solana Treasury Acquisition Backed by Fragmetric & DFDV

The post ‘Failed Experiment’: Are Bitcoin Treasury Companies Dumping BTC? Bitdeer Holdings Hit Zero appeared first on Coinpedia Fintech News

SwanDesk CEO Jacob King, a well-known Bitcoin critic, says companies are rushing to dump their BTC. In a post on X, King claimed corporate Bitcoin exposure has fallen by over 37% in the past three months. He called it “the largest downturn in history.”

His comments came as Bitcoin miner Bitdeer confirmed it sold its entire Bitcoin treasury, bringing holdings down to zero.

Bitdeer Liquidates Entire BTC Reserve

Bitdeer, the Singapore-based miner founded by ex-Bitmain co-founder Jihan Wu, sold 1,132.9 BTC in a single week. That includes 943.1 BTC from its reserves and all 189.8 BTC it mined during the period. Corporate holdings now sit at exactly zero.

The decline was steady. Bitdeer started 2026 holding roughly 2,000 BTC. By the end of January, that fell to 1,530 BTC. By February 13, it was down to 943.1 BTC. A week later, everything was sold.

The company has raised $325 million through convertible notes and another $43.7 million in equity. The funds will go toward AI data center expansion, cloud growth, and mining hardware development.

‘Bitcoin Is a Failed Experiment’

King framed the selloffs as proof that corporate Bitcoin strategies are falling apart.

King also warned that the bear market has more room to fall, saying the “next major leg down will be eye-opening for many naive retail who got lured into this scam.”

Also Read: Crypto Analyst Warns Bitcoin Could Hit Zero, Lays Out 16-Step ‘Doomsday’ Scenario

Are Bitcoin Mining Companies Abandoning the HODL Strategy?

Bitdeer is not the only miner selling. Earlier this month, Cango dumped 4,451 BTC worth $305 million to fund its AI pivot. Riot Platforms sold $200 million in BTC. Bitfarms has dropped its “Bitcoin company” branding altogether and is going all-in on AI in the U.S.

About 70% of top public miners now earn revenue from AI and high-performance computing. The reason is simple. AI workloads bring in 3 to 25 times more revenue per kilowatt than Bitcoin mining, with margins between 80% and 90%.

MARA Holdings also bought a 64% stake in French computing firm Exaion last week, pushing deeper into cloud and AI services. HIVE, Hut 8, TeraWulf, and IREN are all converting mining facilities into data centers.

What Bitcoin’s Bear Market Means for Treasury Companies in 2026

Bitcoin is currently trading around $66,272, down 47% from its October 2025 all-time high. It now sits below the estimated $77,000 to $87,000 production cost for most miners. Bitcoin ETF outflows have hit nearly $4 billion over the past five weeks.

Bernstein still sees BTC reaching $150,000 by year-end, calling this the “weakest bear case in history.” But for miners running on tight margins and rising debt, waiting for a recovery may no longer be an option.

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From Idea to App Store: The Complete Guide to Mobile App Development in Saudi Arabia

From Idea to App Store: The Complete Guide to Mobile App Development in Saudi Arabia

Saudi Arabia is at the forefront of digital transformation. With Vision 2030 driving innovation and a rapidly growing population of tech-savvy users, mobile apps have become a core driver of business growth in the Kingdom. From e-commerce and fintech to healthcare, logistics, and on-demand services, Saudi businesses are embracing mobile apps to connect with customers and scale faster. But how do you take a mobile app idea and turn it into a successful launch on the App Store or Google Play? This guide breaks down the complete mobile app development process in Saudi Arabia — step by step. Step 1: Validate Your App Idea for the Saudi Market Before you start building, ask: What problem does my app solve for Saudi users? Is there a cultural or market gap my app can fill? How do local competitors approach the same challenge? For example, apps related to digital payments, e-learning, delivery services, and healthcare are in high demand across Saudi Arabia. Conducting market research and aligning your app idea with local user behavior is critical. Step 2: Plan Features with Local Needs in Mind Your app should start with an MVP (Minimum Viable Product) — a core version that solves the main problem. Later, you can scale with advanced features. In Saudi Arabia, consider adding: Arabic language support (essential for user adoption) Integration with local payment gateways like STC Pay, Mada, or Apple Pay Regulatory compliance (especially for fintech and health apps) Localization for user preferences (Hijri calendar, cultural UI elements) Step 3: Select the Right Development Approach You can choose: Native Apps (Swift for iOS, Kotlin for Android) — Great for scalability and performance. Cross-Platform Apps (Flutter, React Native) — Cost-effective for startups targeting both iOS and Android simultaneously. Hybrid Apps — Suitable for simpler apps with limited features. For Saudi startups and enterprises, cross-platform development is often preferred to reach a wider audience quickly and efficiently. Step 4: Design With a Local Touch The design must balance global usability standards with local cultural relevance. UI (User Interface): Clean, modern visuals that align with Saudi branding. UX (User Experience): Simple navigation, clear Arabic text support, and intuitive flows. Wireframing & Prototyping: Test early with Saudi users to ensure adoption. A user-friendly design is one of the top reasons apps succeed in the Kingdom’s competitive market. Step 5: Develop Your Mobile App Once the design is ready, the coding begins. Saudi app development companies often follow Agile methodology, ensuring flexibility and faster delivery. Front-End Development: Interface and user interactions. Back-End Development: Databases, servers, and APIs. Integration: Secure connections between front-end and back-end. Strong collaboration between developers, designers, and business analysts ensures your app aligns with Saudi market needs. Step 6: Testing Across Devices and Networks Saudi users rely on different devices and network speeds. That’s why rigorous testing is critical: Functionality Testing: Features work as expected. Performance Testing: The app runs smoothly on both 4G and 5G networks. Localization Testing: Arabic text displays correctly, without alignment issues. Security Testing: Data protection compliance with Saudi cybersecurity standards. Step 7: App Store & Google Play Launch in Saudi Arabia To publish your app: Apple App Store (iOS): Requires an Apple Developer account and strict guideline compliance. Google Play Store (Android): Faster approval but still requires detailed app info. You’ll also need metadata in both English and Arabic — titles, descriptions, and screenshots — to maximize visibility among Saudi users. Step 8: Market Your App in Saudi Arabia Launching an app is only the beginning. You need a marketing strategy tailored to the Kingdom: App Store Optimization (ASO): Use Arabic and English keywords. Social Media Campaigns: Leverage platforms like Snapchat, Twitter (X), and Instagram, which are highly popular in Saudi Arabia. Influencer Marketing: Collaborate with Saudi influencers for early traction. Paid Ads: Google Ads and Saudi-focused Facebook/Instagram ads. Partnerships: Collaborate with local businesses to reach a wider audience. Step 9: Gather Feedback and Optimize Once your app is live, monitor: User reviews on app stores Analytics on engagement, retention, and churn rates Suggestions from Saudi users for culturally relevant features Continuous updates and improvements are vital to stay competitive. Step 10: Scale With Advanced Features Once your MVP gains traction, you can expand with advanced features such as: AI and machine learning for personalization Blockchain-based payments for fintech apps AR/VR features for retail and gaming apps IoT integration for smart home and mobility solutions Saudi Arabia’s digital ecosystem is growing rapidly — apps that adapt quickly will thrive. Conclusion Mobile app development in Saudi Arabia is not just about building an app — it’s about aligning with Vision 2030, cultural needs, and user expectations. By following a clear process — from idea validation to launch and beyond — you can transform your concept into a profitable digital product. Whether you’re a startup or an enterprise in Saudi Arabia, the opportunity is massive. With the right strategy, you can move from idea to App Store and create an app that truly resonates with Saudi users. From Idea to App Store: The Complete Guide to Mobile App Development in Saudi Arabia was originally published in Coinmonks on Medium, where people are continuing the conversation by highlighting and responding to this story
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