#Bitcoin Miners Resume Holding Strategy#
Hot Topic Overview
Overview
After two years of a full-fledged liquidation strategy, Bitcoin mining company Core Scientific began to restore its holding strategy in December, selling only 27% of its self-mined Bitcoin. The company produced 291 BTC in December, sold 79 BTC, and generated $7.7 million in revenue. While its hashrate continued to decline in December, Core estimated that it held approximately 254 BTC at the end of the year, worth about $26 million. This shift suggests that as Bitcoin prices rebound, miners are starting to reconsider their holding strategies and seek to benefit from rising Bitcoin prices.
Ace Hot Topic Analysis
Analysis
Core Scientific, a Bitcoin mining company, appears to be shifting away from its all-out liquidation strategy after two years, opting to hold onto a portion of its mined Bitcoin. The company sold only 27% of its self-mined Bitcoin in December, holding onto the remaining 73%, suggesting a gradual strategy shift away from complete liquidation of all Bitcoin output. This change coincides with the company's improved financial position following its emergence from bankruptcy protection in early 2024. While Core Scientific's hashrate declined in December, the value of its Bitcoin holdings reached $26 million, indicating the company is actively seeking profit opportunities and may continue to hold a portion of its Bitcoin in the future. This trend also reflects a shift in Bitcoin market sentiment and miners' optimistic outlook on the future price of Bitcoin.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Core Scientific resumes some holding strategy, no longer liquidating all mined Bitcoin.
Core Scientific sold 27% of its self-mined Bitcoin in December, holding about 254 BTC.
Core Scientific had zero Bitcoin holdings after falling into financial distress in November 2022, and only began to resume its holding strategy after exiting bankruptcy protection in early 2024.
Core Scientific's realized Bitcoin hashrate continued to decline in December, but its installed hashrate capacity has decreased.