Core Scientific to Sell Nearly All Bitcoin for $175M to Finance AI Data Centers
Core Scientific plans to monetize nearly all of its under-1,000 Bitcoin holdings—after selling 1,900 BTC for $175 million—to fund rising capital expenditures for its AI data center buildout. Most sales are expected in Q1, with Q4 revenue at $41.1M from mining, $31.3M from colocation and $6.5M from hosting.
1. Bitcoin Sales Plan
Core Scientific will monetize nearly all of its Bitcoin holdings, which currently total less than 1,000 BTC, to finance its transition toward AI and high-performance computing. The company has already sold 1,900 BTC for $175 million in January and expects the bulk of liquidations to occur in the first quarter, subject to market conditions.
2. Revenue Mix Shift
In the fourth quarter, Core Scientific generated $41.1 million from Bitcoin mining, $31.3 million from colocation services and $6.5 million from hosting customer operations. As mining revenue declines, colocation and hosting will represent a growing share of total revenue.
3. AI Data Center Buildout
Core Scientific is converting its Pecos, Texas facility from self-mining to high-density colocation, offering up to 430 megawatts of gross power capacity to support AI workloads. Management plans for every megawatt in its portfolio to be dedicated to colocation within three years, effectively ending self-mining operations.