TechFlow news, January 7 — According to theminermag, Bitcoin mining firm Core Scientific has liquidated 27% of the Bitcoin produced by its self-mining operations, indicating that the company may be restoring at least part of its Bitcoin holdings strategy after two years of full-scale liquidation.
The company reported on Monday that it produced 291 BTC in December and sold 79 BTC, generating $7.7 million in proceeds. Notably, since falling into financial distress in November 2022, Core Scientific has maintained a zero Bitcoin balance. After emerging from bankruptcy protection in early 2024, it continued its policy of full liquidation. As of Q3 2024, Core reported no digital assets on its balance sheet.
However, starting in November last year, the company began selling less than 100% of its monthly Bitcoin output—the first time in two years it did not fully liquidate all mined assets. By the end of 2024, Core estimated holding approximately 254 BTC, worth around $26 million at Bitcoin's current price of $102,000. Core’s realized Bitcoin hashrate continued to decline in December 2024, dropping to 15.44 EH/s—17% lower than its pre-halving peak of 18.64 EH/s in 2024. Additionally, by the end of 2024, Core had reduced its installed hash rate capacity to 19.1 EH/s.
