Bitdeer Technologies Group, a Nasdaq-listed Bitcoin (BTC) mining company, reduced its Bitcoin holdings by 96.5 bitcoins last week, bringing total reserves to approximately 943.1 bitcoins, according to data compiled by BitcoinTreasuries.

The decline pushed the company’s Bitcoin reserves below the 1,000 bitcoin threshold, according to reserve information released by Bitdeer and reported on BitcoinTreasuries’ X platform.

Bitcoin mining companies typically sell portions of their mined Bitcoin to cover operational expenses, maintain cash flow, or manage debt obligations, according to industry analysts. Market participants closely monitor miner selling activity, particularly during periods of heightened price volatility.

The reduction in Bitdeer’s holdings occurred despite continued production activity, the data showed. The company’s reserves falling below 1,000 bitcoins represents a shift in the firm’s balance sheet position.

Bitdeer Technologies Group operates Bitcoin mining facilities and provides hosting services for cryptocurrency mining operations. The company’s shares trade on the Nasdaq stock exchange.