#Bitcoin Miners Resume Holding Strategy#
Hot Topic Overview
Overview
Core Scientific, a Bitcoin mining company, sold only 27% of its self-mined Bitcoin in December, suggesting that the company may be at least partially restoring its holding strategy after two years of complete liquidation. Previously, Core Scientific had maintained zero Bitcoin holdings and continued to implement a full liquidation strategy after emerging from bankruptcy protection in early 2024. However, starting in November, the company sold less Bitcoin than its monthly production, and by the end of the year, it held approximately 254 BTC, worth about $26 million. This shift indicates that Bitcoin miners may be reconsidering their holding strategies and starting to accumulate Bitcoin, potentially signaling a bullish outlook on the future price of Bitcoin.
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, adopting a partial holding strategy. The company sold only 27% of its self-mined Bitcoin in December, retaining the rest, suggesting a potential strategy shift away from complete liquidation of all output. Notably, Core Scientific maintained zero Bitcoin holdings after facing financial distress in November 2022, but began changing its strategy after exiting bankruptcy protection in early 2024. While the company still did not show digital assets on its balance sheet in the third quarter of 2024, the percentage of Bitcoin sold since November 2022 has been below 100%, indicating a gradual reduction in liquidation. As of the end of 2024, Core Scientific is estimated to hold approximately 254 BTC, valued at around $26 million. This shift could be linked to the rebound in Bitcoin prices and the mining company's optimistic outlook on the future market. However, Core Scientific's hashrate continued to decline in December, indicating ongoing challenges in expansion. Overall, Core Scientific's strategy adjustment reflects the trend of Bitcoin mining companies seeking balance amidst market volatility, maintaining operations while seizing opportunities presented by price increases.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Core Scientific resumes partial holding strategy, no longer liquidating all mined Bitcoin.
Core Scientific sold 27% of its self-mined Bitcoin in December 2024 and holds approximately 254 BTC.
Core Scientific maintained zero Bitcoin holdings after facing financial difficulties in November 2022, until it began resuming holdings in December 2024.
Core Scientific's hashrate continued to decline in December 2024, but the company has reduced its installed hashrate capacity.