#Bitcoin Miners Resume Holding Strategy#
Hot Topic Overview
Overview
Core Scientific, a Bitcoin mining company, appears to be recovering some of its holding strategy after two years of complete liquidation. The company sold only 27% of its self-mined Bitcoin in December, holding approximately 254 BTC, worth about $26 million. This suggests that the company may be adjusting its strategy and no longer fully liquidating all of its output assets. Notably, Core Scientific had maintained zero Bitcoin holdings since it fell into financial distress in November 2022. This move to resume holding strategy may reflect the company's optimistic outlook on the future price of Bitcoin and its confidence in its improved financial condition.
Ace Hot Topic Analysis
Analysis
After two years of selling all its mined Bitcoin, Core Scientific began adjusting its strategy in December, retaining 27% of its output. This suggests the company may be returning to a partial holding strategy. Previously, Core Scientific had been in financial distress in November 2022 and had maintained zero Bitcoin holdings. However, starting in November, the company sold less Bitcoin than its monthly production, indicating a potential accumulation of Bitcoin. As of the end of 2024, Core Scientific estimates holding approximately 254 BTC, valued at around $26 million. Despite this, Core Scientific's hashrate continued to decline in December, indicating the company is still adjusting, and its future strategy remains to be seen.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Core Scientific resumes some holding strategy, no longer liquidating all mined Bitcoin.
Core Scientific sold 27% of its self-mined Bitcoin in December and holds the remaining 73%.
Core Scientific resumed some holding strategy after exiting bankruptcy protection in early 2024, suggesting its financial condition may have improved.
Core Scientific's hashrate continued to decline in December 2024, but its change in Bitcoin holding strategy may signal a greater focus on holding Bitcoin in the future.