#Bitcoin Miners Resume Holding Strategy#
Hot Topic Overview
Overview
Core Scientific, a Bitcoin mining company, began to resume some of its holding strategy in December after two years of complete liquidation, selling only 27% of its self-mined Bitcoin. The company had maintained zero Bitcoin holdings since it fell into financial distress in November 2022. This resumption of holding strategy suggests that Core Scientific may be seeking to reaccumulate Bitcoin and shift from its previous liquidation strategy to a more conservative one. Although the company continued to reduce its hashrate in December, the value of its Bitcoin holdings reached $26 million.
Ace Hot Topic Analysis
Analysis
Core Scientific, a Bitcoin mining company, sold only 27% of its self-mined Bitcoin in December 2024, suggesting the company may be returning to a partial holding strategy after two years of complete liquidation. Previously, Core Scientific faced financial difficulties in November 2022 and maintained zero Bitcoin holdings. However, the company began selling less than 100% of its monthly Bitcoin output starting last November, marking the first time in two years that it did not liquidate all of its mined assets. As of the end of 2024, Core estimated it held approximately 254 BTC, worth about $26 million at current prices. This shift indicates that Core Scientific is adjusting its strategy, no longer relying solely on selling Bitcoin to sustain operations, but instead starting to accumulate some Bitcoin, potentially signaling a bullish outlook on the future of Bitcoin prices. However, it's worth noting that Core Scientific's realized hashrate continued to decline in December, suggesting the company is still undergoing adjustments, and its ultimate holding strategy remains to be seen.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Core Scientific resumes partial bitcoin holding strategy, no longer liquidating all mined bitcoin.
Core Scientific sold 27% of its self-mined bitcoin in December 2024, holding approximately 254 BTC.
Core Scientific maintained zero bitcoin holdings after facing financial difficulties in November 2022, until it began to resume holdings in December 2024.
Core Scientific's hashrate continued to decline in December 2024, but its installed hashrate capacity decreased.