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One of the largest mining firms in the United States, Core Scientific, announced its intention to sell all of its 2,537 BTC. The company cites the desire to invest in expanding capabilities for artificial intelligence as the reason.
Core Scientific indicated that it aims to divest the majority of its bitcoin reserves by the end of March. The specific timelines and quantities will be influenced by market conditions.
“By 2026, we expect to monetize nearly all of our holdings of the leading cryptocurrency,” representatives of the miner clarified.
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The accumulation of bitcoins occurred alongside “significant investments related to server placement initiatives intended to support AI and other intensive computational workloads,” according to Core Scientific’s announcement.
“We have already completed half of our current projects and are preparing a platform with a capacity of 1.5 GW for lease. With our presence in multiple regions and proven expertise, we are accelerating the deployment of facilities to ensure sustainable growth for the company,” stated CEO Adam Sullivan.
Core Scientific’s earnings from cryptocurrency mining in the last quarter of the previous year fell to $42.2 million, while revenue decreased to $79.8 million compared to $94.9 million in 2024. Revenue from leasing computational infrastructure tripled over the year, rising from $8.5 million in 2024 to $31.3 million.
Previously, the American mining company MARA Holdings reported that its losses in the last quarter of the previous year exceeded $1.7 billion. The miner attributed the losses to the decline in bitcoin prices and increased costs for maintaining infrastructure.
