Core Scientific sells off Bitcoin amid shift in priorities

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Core Scientific sells off Bitcoin

Strategy shift and reserve liquidation

In its annual report, Core Scientific stated that it plans to sell most of its 2,537 BTC in the first quarter of 2026.

“In 2026, we expect to monetize substantially all of our bitcoin holdings, depending on market conditions, to enhance liquidity and fund planned capital expenditures and other cash requirements,” the company said.

Notably, throughout 2025 the company had been actively accumulating Bitcoin, increasing its reserves from 256 BTC to 2,537 BTC. The portfolio had a carrying value of $222 million, based on an average price of $101,639 per coin.

However, in January Core Scientific sold more than 1,900 BTC for approximately $175 million. Following the transaction, its holdings were reduced to around 630 BTC. The company indicated it intends to continue taking advantage of favorable market opportunities to monetize remaining reserves.

CEO Adam Sullivan described mining as “essentially in runoff mode,” noting that legacy sites are being repurposed to support artificial intelligence and high-performance computing operations.

Earnings pressure and AI focus

Financial results added further pressure. Fourth-quarter revenue came in at $79.8 million, well below market expectations of more than $122 million. The company also reported a loss of $0.42 per share.

Year-end liquidity stood at approximately $530 million. The company’s focus has now shifted toward expanding AI infrastructure. Core Scientific is developing projects totaling up to 1.5 gigawatts and plans to scale its 590-megawatt contract with CoreWeave, which could provide up to $4 billion in potential financing once fully stabilized.

Industry trend and market impact

Core Scientific is not alone in reducing Bitcoin reserves. Riot Platforms sold thousands of BTC in 2025, while Bitdeer announced it would move away from holding corporate Bitcoin to expand its artificial intelligence initiatives.

Bitcoin is currently trading below $67,000, while for many miners production costs exceed market prices. In such conditions, selling becomes a matter of survival rather than strategy. Companies with heavy capital expenditures are choosing to convert BTC into liquidity and invest in infrastructure projects with more predictable cash flows.

The shift toward a data center model is reshaping the business profile of miners. Instead of relying directly on Bitcoin price cycles, they are betting on long-term contracts with AI companies. If this transition proves sustainable, the supply dynamics from miners could change significantly, and Bitcoin may play a smaller role on their balance sheets.

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