Core Scientific to sell most Bitcoin holdings in Q1 2026 to fund AI expansion

Core Scientific expects to monetize substantially all of its Bitcoin reserves in 2026, with most transactions likely in the first quarter, according to its annual report filed March 2. The Nasdaq-listed miner is reallocating capital to expanding artificial intelligence and high-performance computing operations. As of Dec. 31, 2025, it held 2,537 BTC with a carrying fair value of $222 million, based on an average 2025 Bitcoin price of $101,639, and noted that sale timing and size will depend on market conditions and cash needs.

During its fourth-quarter call, executives disclosed that just over 1,900 BTC were sold in January for approximately $175 million, implying an average price near $92,000 per coin. Following those sales, holdings fell to fewer than 1,000 BTC, with roughly 630 BTC remaining, and management indicated that periodic sales would continue through 2026.

The Bitcoin balance had risen from 256 BTC at the end of 2024 as Core Scientific retained most of its self-mined production during 2025. Those reserves are now being used to finance the expansion of AI and high-performance computing capacity.

CFO Jim Nygaard described the January transactions as “opportunistic,” executed at prices “well above current levels at the time.” CEO Adam Sullivan characterized the company’s Bitcoin mining as “essentially in runoff,” with certain operations maintained to satisfy minimum power commitments as legacy sites are converted to AI-focused colocation.

Core Scientific has been repositioning its business around high-density data center infrastructure designed for AI workloads. Proceeds from Bitcoin sales are planned to fund expansion and equipment purchases for customer deployments under its colocation strategy.

Other listed miners are pursuing related strategies. Cango recently sold 4,451 BTC for about $305 million to reduce leverage and support AI expansion. Riot Platforms has redirected portions of its power capacity to AI and high-performance computing. TeraWulf has accelerated AI data center buildouts at its Lake Mariner facility in New York and at sites in Texas. Bitdeer has liquidated Bitcoin reserves to finance infrastructure growth, and CleanSpark, Bitfarms and IREN have outlined diversification plans.