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Core Scientific liquidates $175 million in bitcoin as it intensifies focus on AI initiatives.
CORZ continues to hold less than 1,000 BTC but aims to "remain opportunistic" in the future.
Key points:
- Core Scientific liquidated roughly 1,900 BTC in January for $175 million, suggesting an average sale price of approximately $92,100 per coin.
- The organization is allowing its bitcoin mining operations to diminish as it diverts resources and funding towards AI data centers and high-performance computing colocation.
Core Scientific (CORZ), a company engaged in bitcoin mining and digital infrastructure, disposed of just over 1,900 bitcoin in January for an estimated $175 million, as stated during the CORZ Q4 earnings call.
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This transaction indicates an average price of around $92,100 per BTC, which is roughly 35% above the current price of $67,000, as the company accelerates its transition towards AI-centric data center functions.
Chief Financial Officer Jim Nygaard mentioned in the Q4 call that the firm “also opportunistically sold just over 1,900 bitcoin for approximately $175 million,” and further noted, “we currently hold under 1,000 bitcoin and plan to stay opportunistic in the future.”
As of December 31, 2025, the company possessed 2,537 BTC, with the latest transaction reducing its total to about 630 BTC.
Leadership has clarified that bitcoin mining is no longer the primary focus going forward. CEO Adam Sullivan characterized the mining division as “essentially in runoff,” with operations primarily maintained to satisfy minimum power draw requirements while existing sites are being transformed into colocation centers that support AI and high-performance computing workloads.
Core Scientific concluded the year with approximately $530 million in liquidity and noted potential financing of up to $4 billion linked to its 590 megawatt CoreWeave contract at stabilization, emphasizing that BTC sales are being utilized to finance AI infrastructure growth rather than to rebuild mining capabilities.
Core Scientific fell short of fourth-quarter expectations, reporting revenue of $79.8 million compared to consensus of $122.08 million and a loss of $0.42 per share against projections for a $0.08 loss.
This transition reflects a wider industry movement away from exclusive bitcoin mining towards AI and data center infrastructure, with MARA Holdings (MARA) entering into a partnership with investment firm Starwood, Riot Platforms (RIOT) liquidating approximately $200 million of bitcoin in the last two months of 2025, and both Cipher Digital (CIFR) and Bitfarms (BITF) rebranding to underscore their focus on AI and HPC exposure.
