#Bitcoin Miners Resume Holding Strategy#
Hot Topic Overview
Overview
After two years of complete liquidation, Bitcoin mining company Core Scientific began adjusting its strategy in December, selling only 27% of its self-mined Bitcoin and holding the rest. This suggests the company may be reverting to a partial holding strategy. Core Scientific had maintained zero Bitcoin holdings after facing financial difficulties in November 2022 and continued to liquidate all its produced assets after emerging from bankruptcy protection in early 2024. However, starting in November, the company sold less Bitcoin than its monthly production, signaling a shift in its strategy. As of the end of 2024, Core Scientific is estimated to hold approximately 254 BTC, worth about $26 million. Despite this, the company's hashrate continued to decline in December, indicating that it still faces challenges in scaling its operations.
Ace Hot Topic Analysis
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 2024, retaining the rest. This marks the first time since November 2022, when the company fell into financial distress, that it has not liquidated all of its output assets. While Core Scientific still did not show digital assets on its balance sheet in the third quarter of 2024, the 254 Bitcoins it retained in December, worth approximately $26 million at current prices, indicate that the company is gradually adjusting its strategy and no longer fully relies on selling Bitcoin to sustain operations. This shift may be related to the rebound in Bitcoin prices and the improvement in mining profitability, or it may reflect Core Scientific's optimistic outlook on the future of the Bitcoin market. However, the company's hashrate in December still declined, indicating that it faces challenges in cost control and profitability while recovering its holding strategy. Whether Core Scientific will continue to increase its Bitcoin holdings in the future and the specific direction of its holding strategy 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 2024, holding the remaining 73%.
Core Scientific's Bitcoin holdings in December 2024 were 254 BTC, valued at approximately $26 million.
Core Scientific's hashrate fell to 15.44 EH/s in December 2024, down 17% from its pre-halving peak.