#Bitcoin Miners Resume Holding Strategy#
Hot Topic Overview
Overview
Core Scientific, a Bitcoin mining company, began to resume some of its holding strategy in December after nearly two years of complete liquidation strategy. It only sold 27% of its self-mined Bitcoin and held about 254 BTC, worth about $26 million. Previously, the company had maintained zero Bitcoin holdings after falling into financial distress in November 2022. This shift suggests that mining companies are beginning to reassess their holding strategies and seek to gain more profits in market fluctuations as Bitcoin prices rebound. However, Core Scientific's hashrate continued to decline in December, indicating that it is still facing profitability pressure.
Ace Hot Topic Analysis
Analysis
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, the company had maintained zero Bitcoin holdings and implemented a full liquidation strategy after facing financial difficulties in November 2022. However, starting in November, the company sold a lower percentage of its monthly Bitcoin production than 100%, marking the first time in two years that it did not liquidate all of its produced assets. As of the end of 2024, Core estimates holding approximately 254 BTC, valued at around $26 million at the current Bitcoin price. This shift indicates that Core Scientific may be adjusting its strategy from complete liquidation to partial holding, potentially driven by the rebound in Bitcoin prices and the company's improved financial condition. However, Core's realized Bitcoin hashrate continued to decline in December, suggesting that the company still faces cost pressures and market competition.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Core Scientific resumes partial bitcoin holding strategy, no longer liquidating all mined bitcoin.
Core Scientific sold 27% of its self-mined bitcoin in December 2024, holding approximately 254 BTC.
Core Scientific's hashrate continued to decline in December 2024, but its installed hashrate capacity decreased.
Core Scientific maintained zero bitcoin holdings after falling into financial distress in November 2022, until it resumed a partial holding strategy after exiting bankruptcy protection in early 2024.