According to TechFlow news on January 7, reported by theminermag, Bitcoin mining company Core Scientific liquidated 27% of the Bitcoin produced by its own mining department, indicating that the company may at least partially restore its holding strategy after two years of comprehensive liquidation.
The company reported on Monday that it produced 291 BTC in December and sold 79 BTC, generating a total revenue of $7.7 million. Notably, since falling into financial difficulties in November 2022, Core Scientific has maintained a zero Bitcoin holding. After exiting bankruptcy protection in early 2024, it continues to implement a comprehensive liquidation strategy. As of the third quarter of 2024, Core reported that there were no digital assets on its balance sheet.
However, the company began selling less than 100% of its monthly production of Bitcoin starting from last November, marking the first time in two years that it did not liquidate all produced assets. By the end of 2024, Core is estimated to hold approximately 254 BTC, valued at $26 million based on the current Bitcoin price of $102,000. Core's realized Bitcoin hash rate continued to decline to 15.44 EH/s in December last year, down 17% from its peak of 18.64 EH/s before the halving event in 2024. Additionally, by the end of 2024, Core has reduced its installed hash rate capacity to 19.1 EH/s.
