Core Scientific is the latest in a line of Bitcoin miners to accelerate the shift towards artificial intelligence, selling 1,900 BTC and indicating that more are on the way.
Core Scientific expects to sell all of its Bitcoin holdings in the first quarter of 2026
Core Scientific has filed its annual report with the US Securities and Exchange Commission (SEC) and it reveals key insights into the direction the company is currently headed.
Core Scientific was originally a company focused on Bitcoin mining, and is among the largest public mining companies in the world, but more recently, the company has begun to push into the AI computing business.
At the end of 2024, the company had a total computing power or “hashrate” of 20.1 exahashes per second (EH/s). The 2025 Annual Report indicates that this metric has dropped to 17.9 exa/s as AI expands.
Not only that, the report also noted that Core Scientific expects to monetize substantially all of its Bitcoin holdings through 2026, with the majority of sales occurring during the first quarter. This selling has already begun, as the company announced in its Q4 2025 earnings call that it sold more than 1,900 bitcoins for $175 million in January.
Before the sale, the company owned 2,537 BTC, but now that number has dropped to just 630 BTC. Given the SEC filing, Core Scientific plans to eventually divest these remaining tokens as well.
So, where do the money from Bitcoin sales go? No mining, apparently. The company noted in the filing:
Aside from the miners received in 2025 and those expected from Block, we do not expect to enter into large-scale new agreements to purchase Bitcoin mining equipment as we continue to shift capital allocation towards HDC infrastructure.
While Core Scientific has declined its hashrate over the course of 2025, the company remains among the top 10 public BTC miners, according to data from BitcoinMiningStock. With expansions in favor of the AI pivot stalled, it remains to be seen how long the company will maintain its relevance as a mining company.
How the BTC mining firms compare against each other in terms of operating Hashrate | Source: BitcoinMiningStock
The push into the High Performance Computing (HPC) business is actually something we are seeing across the Bitcoin mining industry at the moment. Bitdeer, Cango, and Bitfarms, which ranked first, fifth, and 10th in the top 10, respectively, are all moving into data centers.
Bitfarms, in particular, plans to scale back its mining facilities over the course of 2026 and 2027, signaling a complete exit from the space. Ben Ganion, the company’s CEO, believes the pivot will be very profitable, explaining:
Despite being less than 1% of our total scalable portfolio, we believe that converting our Washington-only site to GPU-as-a-service could result in greater net operating income than we have ever achieved through Bitcoin mining.
Bitcoin price
At the time of writing, Bitcoin is trading at around $68,200, up more than 6% over the past week.
Looks like the price of the coin has overall moved sideways over the last few days | Source: BTCUSDT on TradingView
Featured image by Dall-E, chart from TradingView.com
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