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Core Scientific sells $175 million in bitcoin as AI pivot accelerates

AI Summary3 min read

TL;DR

Core Scientific sold 1,900 BTC for $175 million in January as it accelerates its pivot from bitcoin mining to AI data centers and HPC colocation. The company's mining business is now in runoff mode while it reallocates resources toward AI infrastructure expansion.

Key Takeaways

  • •Core Scientific sold approximately 1,900 bitcoin in January for $175 million at an average price of $92,100 per BTC
  • •The company is winding down its bitcoin mining operations to focus on AI data centers and high-performance computing colocation
  • •Core Scientific now holds under 1,000 bitcoin and plans to remain opportunistic with future sales
  • •The shift reflects a broader industry trend away from pure bitcoin mining toward AI and data center infrastructure
  • •BTC sales are funding AI infrastructure expansion rather than rebuilding mining capacity
Mining equipment (Shutterstock)

What to know:

  • Core Scientific sold approximately 1,900 BTC in January for $175 million implying an average sale price of about $92,100 per coin.
  • The company is allowing its bitcoin mining business to wind down as it reallocates power and capital toward AI data centers and HPC colocation.
  • Core Scientific sold approximately 1,900 BTC in January for $175 million implying an average sale price of about $92,100 per coin.
  • The company is allowing its bitcoin mining business to wind down as it reallocates power and capital toward AI data centers and HPC colocation.

Core Scientific (CORZ), a bitcoin mining and digital infrastructure company, sold just over 1,900 bitcoin in January for approximately $175 million, according to CORZ Q4 earnings call.

The sale implies an average price of about $92,100 per BTC, about 35% higher than today's $67,000 current price, as it accelerates its shift toward AI focused data center operations.

Chief Financial Officer Jim Nygaard said on the Q4 call the company “we also opportunistically sold just over 1,900 bitcoin for approximately $175 million,” adding, “at this time, we hold under 1,000 bitcoin and expect to remain opportunistic going forward.”

On Dec. 31, 2025, the company held 2,537 BTC with the latest sale bringing its tally to around 630 BTC.

Management has made clear that bitcoin mining is no longer the long term focus. CEO Adam Sullivan described the mining segment as “essentially in runoff,” with operations maintained primarily to meet minimum power draw requirements while legacy sites are converted into colocation facilities supporting AI and high performance computing workloads.

Core Scientific ended the year with approximately $530 million in liquidity and highlighted up to $4 billion in potential financing tied to its 590 megawatt CoreWeave contract at stabilization, underscoring that BTC sales are being used to fund AI infrastructure expansion rather than rebuild mining capacity.
Core Scientific missed fourth quarter expectations, reporting $79.8 million in revenue versus $122.08 million consensus and a loss of $0.42 per share compared with estimates for a $0.08 loss.

The shift reflects a broader industry pivot away from pure bitcoin mining toward AI and data center infrastructure, with MARA Holdings (MARA) striking a deal with investment firm Starwood, Riot Platforms (RIOT) selling roughly $200 million of bitcoin in the final two months of 2025, and both Cipher Digital (CIFR) and Bitfarms (BITF) rebranding to emphasize AI and HPC exposure.

  • Sygnum Bank CIO Fabian Dori says bitcoin’s pullback is a liquidity-driven squeeze, not a structural breakdown in fundamentals.
  • Sentiment is at extreme fear levels, leaving markets vulnerable to further volatility and downside.
  • Improving business cycle data, stablecoin growth and institutional adoption support a constructive long-term outlook, according to Dori.

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