CORZ sells $175 million in BTC in January as AI pivot accelerates
Core Scientific sold $175 million in Bitcoin during January to fund its accelerating pivot toward AI data center operations.Summary
Core Scientific (CORZ), a digital infrastructure company, sold over 1,900 Bitcoin in January for approximately $175 million, realizing an average price of about $92,100 per BTC. This sale reduces their holdings to under 1,000 BTC, with management indicating they will remain opportunistic. The company is aggressively shifting its focus away from Bitcoin mining, which CEO Adam Sullivan described as "essentially in runoff," towards developing AI and high-performance computing (HPC) colocation facilities. The proceeds from BTC sales are intended to fund this AI infrastructure expansion, supported by significant liquidity and up to $4 billion in potential financing tied to a CoreWeave contract. Despite the strategic pivot, Core Scientific missed Q4 earnings expectations.
(Source：CoinDesk)