#Bitcoin Miners Resume Holding Strategy#
Hot Topic Overview
Overview
After two years of a complete liquidation strategy, Bitcoin mining company Core Scientific began to restore some of its holding strategy in December, selling only 27% of its self-mined Bitcoin and holding approximately 254 BTC, worth about $26 million. This marks a shift in the company's asset management strategy following financial difficulties and could signal a broader change in Bitcoin mining companies' holding strategies. Although the company's hashrate continued to decline in December, its adjusted Bitcoin holding strategy suggests a change in its outlook on the future price of Bitcoin and could have an impact on the entire industry.
Ace Hot Topic Analysis
Analysis
Core Scientific, a Bitcoin mining company, appears to be shifting away from its all-out liquidation strategy after nearly two years, and is now adopting a partial holding strategy. In December 2023, the company sold only 27% of its self-mined Bitcoin, while retaining the remaining 73%. This suggests that Core Scientific may be attempting to reaccumulate Bitcoin and move towards a more balanced strategy from its purely liquidation model. Notably, Core Scientific had maintained zero Bitcoin holdings since November 2022, when it faced financial difficulties, until December 2024 when it began retaining a portion of its output. This shift could be linked to the rebound in Bitcoin prices and the company's improved financial condition. Although Core Scientific's hashrate declined in December 2023, its move to retain some Bitcoin suggests that the company may be seeking a more sustainable operating model and hoping to benefit from potential upside in Bitcoin prices.
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 and holds the remaining 73%.
Core Scientific began resuming its holding strategy after exiting bankruptcy protection in early 2024, but its hashrate is still declining.
Core Scientific's shift in holding strategy may be related to the rise in Bitcoin prices, as the company hopes to profit from the price increase.