#Bitcoin Miners Resume Holding Strategy#
Hot Topic Overview
Overview
After nearly 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. The company produced 291 BTC in December, sold 79 BTC, and generated $7.7 million in revenue. Previously, Core Scientific had maintained zero Bitcoin holdings since it fell into financial distress in November 2022. This move to restore its holding strategy suggests that the company may be gradually adjusting its operating strategy and beginning to accumulate Bitcoin assets. Although Core Scientific's hashrate declined in December, its shift in Bitcoin holding strategy indicates that Bitcoin miners are reassessing their business models and may hold more Bitcoin in the future.
Ace Hot Topic Analysis
Analysis
Core Scientific, a Bitcoin mining company, appears to be partially reverting to a holding strategy after nearly two years of complete liquidation. The company sold only 27% of its self-mined Bitcoin in December, holding onto the remaining 73%, marking the first time since November 2022, when it faced financial difficulties, that it did not liquidate all of its mined assets. While Core Scientific's hashrate declined in December, the value of its Bitcoin holdings reached $26 million, indicating a gradual shift back to a holding strategy. This move could be linked to the rebound in Bitcoin prices and miners' optimistic outlook on the future market. However, whether Core Scientific will maintain its holding strategy and whether other miners will follow suit remains to be seen.
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, the first time in two years that it has not liquidated all of its mined assets.
Core Scientific's Bitcoin holdings are estimated to be around 254 BTC at the end of 2024, worth approximately $26 million.
Core Scientific's hashrate continued to decline in December 2024, but the company has reduced its installed hashrate capacity to 19.1 EH/s.