#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. 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. By the end of 2024, Core estimates it will hold approximately 254 BTC, worth about $26 million. This shift suggests that Bitcoin miners may be re-evaluating their strategies and beginning to hold some of their self-mined Bitcoin as an investment strategy.
Ace Hot Topic Analysis
Analysis
Core Scientific, a Bitcoin mining company, appears to be recovering some of its holding strategy after two years of complete liquidation. The company sold only 27% of its self-mined Bitcoin in December, after previously maintaining zero Bitcoin holdings. This shift suggests that Core Scientific may be seeking to hedge against market volatility and benefit from long-term value growth by holding some Bitcoin. Notably, the company began selling less than 100% of its monthly Bitcoin production in November 2024, the first time in two years that it did not liquidate all of its production assets. As of the end of 2024, Core estimated that it held approximately 254 BTC, worth about $26 million at current prices. However, Core's realized Bitcoin hashrate continued to decline in December, indicating that the company is still adjusting its operating strategy to address the evolving market environment.
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, suggesting it may be adjusting its strategy to no longer fully liquidate all production.
Core Scientific continued to implement a full liquidation strategy after emerging from bankruptcy protection in early 2024, but began selling less than 100% of its monthly mined Bitcoin in November.
Core Scientific's realized Bitcoin hashrate continued to decline in December, suggesting it may be adjusting its mining strategy.