- Core Scientific sold 1,900 Bitcoin in January and expects to sell its remaining sub-1,000 BTC holdings by Q1 2026.
- The sales were executed to increase liquidity and finance capital expenditures, particularly for its AI expansion.
- CFO Jim Nygaard described 2025 as a transitional year, with most revenue still from Bitcoin mining as the colocation business grows.
- The company holds contracts with AI cloud provider CoreWeave, viewing this capacity as collateral for future capital raises.
- Fellow public miner Riot Platforms also sold a significant amount of Bitcoin in 2025 to fund operations and expansion.
Core Scientific, a Bitcoin miner and digital infrastructure firm, announced significant Bitcoin sales this week, reducing its holdings to fewer than 1,000 BTC as it pivots capital toward Artificial Intelligence expansion. According to its annual report and fourth-quarter earnings release, the company sold 1,900 Bitcoin in January and plans to monetize the remainder in early 2026. The sales were intended to bolster liquidity and finance other cash needs, including investments related to its AI business.
Chief Financial Officer Jim Nygaard stated on Monday’s earnings call that 2025 was a “transitional year” for the company. He noted Core Scientific ended the year with approximately $530 million in total liquidity and has multiple avenues for raising capital.
One key strategy involves leveraging its contracted data center capacity with AI cloud company CoreWeave. Consequently, the firm could potentially secure loans against this $4 billion in contracted capacity at stabilization.
Meanwhile, Core Scientific held 2,537 Bitcoin at the end of 2025, with a carrying value of $222 million based on an average price of $101,639 per coin. This was a substantial increase from the 256 BTC it held at the end of 2024. The company also filed a 10-K restatement, which it said did not affect revenue or cash flow.
Other major miners are also selling Bitcoin holdings to fund growth. For instance, Riot Platforms sold 5,363 Bitcoin in 2025 for roughly $535.5 million, describing the sales as essential for funding operations and expansion.
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