#Bitcoin Miners Resume Holding Strategy#
Hot Topic Overview
Overview
Core Scientific, a Bitcoin mining company, began to resume its holding strategy in December after two years of complete liquidation. It only sold 27% of its self-mined Bitcoin and held approximately 254 BTC, worth about $26 million. Previously, the company had maintained zero Bitcoin holdings since November 2022 when it faced financial difficulties. This shift suggests that as the Bitcoin price recovers, mining companies are starting to reconsider their holding strategies and may gradually reduce liquidation, opting to hold more Bitcoin. However, Core Scientific's hashrate continued to decline in December, indicating that while it is resuming its holding strategy, it also faces cost pressures and market competition challenges.
Ace Hot Topic Analysis
Analysis
After nearly two years of a complete liquidation strategy, Bitcoin mining company Core Scientific began adjusting its strategy in December, no longer liquidating all of its self-mined Bitcoin but instead retaining a portion. The company produced 291 Bitcoin in December, selling 79 and generating $7.7 million in revenue, meaning it retained approximately 212 Bitcoin. This move suggests that Core Scientific may be restoring a partial holding strategy, a contrast to its practice of liquidating all produced assets over the past two years. Notably, Core Scientific had maintained zero Bitcoin holdings since November 2022 when it faced financial difficulties, and continued its complete liquidation strategy after emerging from bankruptcy protection in early 2024. This strategy shift may be linked to the rebound in Bitcoin prices and the company's improved financial condition. While Core Scientific's hashrate declined in December, it still holds approximately 254 Bitcoin, valued at around $26 million at current prices. This change also reflects Bitcoin miners' confidence in the market outlook and a renewed emphasis on holding Bitcoin as a long-term investment.
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 approximately 254 BTC
Core Scientific's hashrate continued to decline in December 2024, but it has reduced its installed hashrate capacity to 19.1 EH/s
Core Scientific maintained zero Bitcoin holdings after falling into financial distress in November 2022, until it emerged from bankruptcy protection in early 2024