Bitcoin mining company Core Scientific sold only 27% of its self-mined Bitcoin in December last year, or resumed a partial holding strategy

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ODAILY
01-07
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Odaily reports that the bitcoin mining company Core Scientific has liquidated 27% of the bitcoin produced by its own mining division, indicating that the company may recover at least part of its holding strategy after a comprehensive liquidation over the past two years. The company reported on Monday that it produced 291 BTC in December and sold 79 BTC, generating revenue of $7.7 million. It is noteworthy that since encountering financial difficulties in November 2022, Core Scientific has maintained a zero bitcoin holding. After exiting bankruptcy protection in early 2024, it will continue to implement a comprehensive liquidation strategy. By the third quarter of 2024, Core reported that it had no digital assets on its balance sheet. However, the company has been selling less than 100% of its monthly bitcoin production since last November, the first time in two years it has not liquidated all of its production assets. By the end of 2024, Core estimates it will hold around 254 BTC, worth $26 million at bitcoin's current price of $102,000. Core's realized bitcoin hashrate continued to decline in December, falling to 15.44 EH/s, a 17% drop from the peak of 18.64 EH/s before the halving event in 2024. Additionally, by the end of 2024, Core has reduced its installed hashrate capacity to 19.1 EH/s.

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