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Core Scientific, a Bitcoin mining company, announced this week its plans to sell almost all of its Bitcoin holdings to fund its turn toward artificial intelligence and high-performance computing.
The move reflects a broader trend in the Bitcoin mining industry, but also raises questions about the viability of maintaining a Bitcoin reserve, especially given the general decline in the markets.
A Bitcoin miner reduces his holdings for growth
Core Scientific on Monday revealed its plans to use the proceeds from the sale of bitcoin to finance it Expansion of its growing data centers. And according to another 10-K report For her, the company sold 1,924 Bitcoins between December and February for a total income of about $176 million.
Bitcoin Treasures reported that Core Scientific currently has 613 bitcoins, worth about $42 million.
The company also announced the change of its facility in Pecos, Texas, from Bitcoin mining to hosting services, responding to the growing demand for Bitcoin. Artificial intelligence infrastructure.
This shift reflects a broader trend among Bitcoin miners to seek more profitable business models. This also coincides with falling Bitcoin prices and rising energy costs that have burdened miners’ operations.
PennCrypto stated last December that Bitcoin mining profitability had reached record lows by the end of 2025, with 70% of the top 10 Bitcoin mining companies Already revenues from infrastructure services.
Core Scientific is the latest to join the trend, along with CleanSpark, Riot Platforms, Irene and others.
However, this latest move not only reflects a general restructuring, but also indicates Stay away from accumulating Bitcoin.
Bitcoin’s stagnation raises questions about DATs
Core Scientific’s shares of Bitcoin before the recent sale were not among the biggest in the industry. According to the Bitcoin Treasury, the company ranks 59th among the 100 largest public companies by Bitcoin reserves.
But the size of this sale has raised questions about the future profitability of digital asset reserves (DAT).
This change also coincides with MARA Holding modifies its reserve policyAs it is now allowed to sell Bitcoin held directly on the balance sheet.
The announcement marked a sharp shift from its previous position as the second largest holder of Bitcoin “Full conservation”. The announcement also raised broader questions about whether other DAT companies would soon follow suit.
The Bitcoin fiasco led to… Record new highsInstead, it remains stagnant, raising widespread concerns. At the time of writing, it is at $68,000, but it has dropped 11% in the past month and 27% in the last three months.
It is now becoming increasingly unlikely that Bitcoin will return to… Its previous all-time high was $126,000.
Meanwhile, the largest holder of Bitcoin treasure, Strategy (formerly known as MicroStrategy), continues its commitment to Bitcoin, with founder Michael Saylor telling X on Tuesday: “I bought Bitcoin now, yes?”
However, he shared Its stock fluctuations MSTR, concerns for investor confidence.
At the same time, Fong Li, CEO of the company, admits, Last November This Strategy can be forced to sell Bitcoin in certain crisis conditions.
