Bitcoin miner Core Scientific (NASDAQ: CORZ) is getting ready to offload virtually its entire Bitcoin stash. And the timing is interesting.
In its annual report filed Monday, the company revealed it expects to sell the majority of its 2,537 BTC holdings during Q1 2026. The proceeds will go straight into funding its AI compute colocation buildout.
“During 2026, we currently expect to monetize substantially all of our bitcoin holdings, subject to market conditions, to enhance liquidity and fund our planned capital expenditures and other cash requirements,” the company stated in the filing.
Here’s what makes this interesting. Core Scientific spent all of 2025 hoarding. Instead of selling mined coins to cover costs, they held. Their reserve grew nearly tenfold, from 256 BTC at the end of 2024 to 2,537 BTC by December 31, 2025, all produced through self-mining. The carrying fair value sat at $222 million, based on an average price of $101,639 per coin.
That accumulation strategy is now being reversed entirely.
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The BTC sale announcement landed alongside a rough earnings report. Core Scientific posted Q4 2025 revenue of $79.8 million, falling well short of the $124.5 million analysts expected. Colocation revenue climbed to $31.3 million from $8.5 million a year ago, but it wasn’t enough to offset the mining slowdown.
The company is now scaling a 1.5 gigawatt pipeline of leasable AI capacity with over $10 billion in contracted revenue.
Core Scientific isn’t the first one.
As Coinpedia reported, Bitdeer also recently dropped its BTC holdings to zero. Cango sold 4,451 BTC for roughly $305 million. Riot Platforms moved 5,363 BTC in 2025 for about $535.5 million in proceeds.
Every one of these sales pointed toward the same destination: AI infrastructure.
With BTC currently trading around $66,988, well below the estimated $87,000 production cost for most miners, the pressure to sell is structural. Miners sitting on reserves they built at higher average costs now face a choice: hold and bleed, or sell and build.
Core Scientific has clearly made its call.
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