#Bitcoin Miners Resume Holding Strategy#
Hot Topic Overview
Overview
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, Core Scientific had maintained zero Bitcoin holdings and continued to implement a full liquidation strategy after emerging from bankruptcy protection in early 2024. However, the company began selling less than 100% of its monthly Bitcoin output in November, marking the first time in two years that it did not liquidate all of its produced assets. As of the end of 2024, Core estimated that it held approximately 254 BTC, worth about $26 million. While Core's hashrate continued to decline in December, its move to restore its holding strategy suggests that Bitcoin miners may be re-evaluating their strategies and beginning to accumulate Bitcoin.
Ace Hot Topic Analysis
Analysis
Core Scientific, a Bitcoin mining company, appears to be recovering some of its holding strategy after a two-year comprehensive liquidation strategy. The company sold only 27% of its self-mined Bitcoin in December 2023, after previously maintaining zero Bitcoin holdings. This change indicates that Core Scientific is adjusting its strategy, no longer fully liquidating all mining output, but starting to retain a portion of Bitcoin. While the company still maintains a low hashrate level after exiting bankruptcy protection in early 2024, its shift in Bitcoin holding strategy suggests an increased confidence in the future price of Bitcoin and may signal that other mining companies may follow suit. Furthermore, Core Scientific's move also reflects the gradual revival of the Bitcoin market after the slump in 2022.
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 and holds the remaining 73%.
Core Scientific had zero Bitcoin holdings after falling into financial distress in November 2022, until it began to resume holdings in December 2024.
Core Scientific's hashrate continued to decline in December 2024, but its change in holding strategy may signal a greater emphasis on Bitcoin holdings by Bitcoin miners in the future.