#Bitcoin Miners Resume Holding Strategy#

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Overview

Core Scientific, a Bitcoin mining company, began to resume some of its holding strategy in December after two years of complete liquidation, 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 after falling into financial distress in November 2022. This resumption of holding strategy suggests that the company may be seeking to profit from a potential rise in Bitcoin prices and may further increase its Bitcoin holdings in the future. However, Core Scientific's hashrate continued to decline in December, indicating that it is still facing cost pressures.

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Analysis

Core Scientific, a Bitcoin mining company, appears to be recovering some of its holding strategy after nearly two years of complete liquidation. The company sold only 27% of its self-mined Bitcoin in December, after previously maintaining zero Bitcoin holdings. This suggests that Core Scientific may be adjusting its strategy, no longer completely liquidating all its output, but starting to retain some Bitcoin. This shift may be related to the rebound in Bitcoin prices and the mining companies' optimistic outlook on the future market. Although Core Scientific's hashrate declined in December, the value of its Bitcoin holdings has reached $26 million, indicating that the company is gradually recovering its financial position. This event also provides a reference for other Bitcoin mining companies, and more mining companies may choose to resume their holding strategies in the future, which could further drive up Bitcoin prices.

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Core Scientific resumes some holding strategy, no longer liquidating all mined Bitcoin.

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Core Scientific sold 27% of its self-mined Bitcoin in December, holding about 254 BTC.

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Core Scientific's hashrate continued to decline in December, but it has reduced its installed hashrate capacity.

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Core Scientific emerged from bankruptcy protection in early 2024 and resumed some holding strategy.

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