Core Scientific, a major data center operator, has sold approximately 1,900 Bitcoin for $175 million in January. This strategic move supports the company's pivot from Bitcoin mining to building AI infrastructure.
Chief Financial Officer Jim Nygaard announced the sale during the Q4 earnings call, noting the company leveraged favorable market conditions to boost liquidity. Following the transaction, Core Scientific now holds fewer than 1,000 Bitcoin, down from over 2,500 at the end of 2025.
The sale aligns with a wider industry trend where mining firms are redirecting resources toward AI and high-performance computing. Core Scientific executives reported significant progress on their AI data center expansion, with 350 megawatts of capacity energized and nearly 100 megawatts currently generating revenue.
Negotiations are underway with major clients, including 500 megawatts under exclusivity and a pipeline for an additional 1.5 gigawatts of leasable capacity. The company is prioritizing site readiness, securing equipment, and focusing on creditworthy tenants backed by investment-grade partners.