Core Scientific plans to sell its 2,537 BTC holdings to enhance liquidity and fund AI initiatives, following a decline in mining revenue.
Core Scientific, a prominent player in the cryptocurrency mining industry, has announced plans to sell its entire Bitcoin reserve of 2,537 BTC, valued at approximately $170 million at current rates. This strategic move aims to bolster the company's liquidity and support its initiatives in artificial intelligence, as outlined in its latest annual report.
The firm intends to execute the majority of this sale by the end of the first quarter, with the timing and quantity of Bitcoin sold being contingent upon market conditions.
As of the end of 2025, Core Scientific's Bitcoin holdings were valued at $222 million, with an average acquisition cost of $101,639 per coin. This marks a significant increase from the 256 BTC the company held at the end of 2024, all obtained through its mining operations.
Despite the increase in Bitcoin reserves, Core Scientific's cryptocurrency mining revenue saw a decline, dropping to $42.2 million in the fourth quarter, contributing to an overall revenue fall from $94.9 million to $79.8 million year-over-year. In contrast, revenue from leasing computing infrastructure surged over threefold to $31.3 million, up from $8.5 million in 2024, showcasing a strategic shift in focus.
The company, which was acquired by AI-focused CoreWeave for $9 billion in July 2025, reported a gross profit of $20.8 million for the quarter, a significant increase from $4.8 million in 2024. However, adjusted EBITDA remained negative at -$42.7 million, with liquidity standing at $533.4 million at year-end.
In a related trend, Riot Platforms has reported record revenue growth, nearly doubling its income from $376.7 million to $647.4 million in 2025, primarily due to a pivot towards infrastructure for AI and high-performance computing. The company’s Bitcoin production increased to 5,686 BTC, with mining revenue rising to $576.3 million, although the cost of mining also increased to $49,645 per coin.
Riot’s CEO Jason Les highlighted the strategic evolution of the business, leveraging a nearly 2 GW energy portfolio to create value for shareholders. The company has also partnered with chipmaker AMD to establish a new facility, which is already yielding profits.
In addition to these developments, Riot Platforms settled a lawsuit with SBI Crypto for $20 million, significantly less than the initial claim of over $175 million for breach of contract and fraud allegations. This settlement reflects the ongoing financial complexities within the cryptocurrency mining sector.
