#Bitcoin Miners Resume Holding Strategy#
Hot Topic Overview
Overview
After nearly two years of a complete liquidation strategy, Bitcoin mining company Core Scientific began to restore some of its holding strategy in December, selling only 27% of its self-mined Bitcoin and holding approximately 254 BTC. This indicates that the company, after improving its financial condition, is beginning to reconsider its Bitcoin holding strategy and may gradually reduce the liquidation ratio. Although its hashrate declined in December, Core Scientific's move suggests that Bitcoin miners are gradually regaining confidence in digital assets and beginning to reassess their business models.
Ace Hot Topic Analysis
Analysis
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 the remaining 73%, marking the first time since November 2022, when it fell into financial distress, that it did not liquidate all of its output assets. While Core Scientific still had no digital assets on its balance sheet after exiting bankruptcy protection in early 2024, it began selling less than 100% of its monthly output Bitcoin in November and is estimated to have held approximately 254 BTC, worth about $26 million, by the end of 2024. This move suggests that Core Scientific may be reassessing its business strategy and beginning to treat some Bitcoin holdings as a long-term investment. However, it is worth noting that Core Scientific's realized Bitcoin hashrate continued to decline in December, indicating that its mining operations are still facing challenges.
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, holding approximately 254 BTC.
Core Scientific continued to implement a full liquidation strategy after emerging from bankruptcy protection in early 2024, but changed its strategy starting in November.
Core Scientific's hashrate continued to decline in December, but its installed hashrate capacity has been reduced to 19.1 EH/s.