Core Scientific, a publicly traded mining company, reported a set of sharply contrasting figures for the third quarter: it sold 816 bitcoins, about 96% of its holdings at the time, and had only 32 left on its books as of September 30. At its peak in 2022, the company held more than 9,600 $BTC . The shift from “nearly 10,000” to “32” is immediately clear.
Even more striking is the timeline. Reports from Odaily, PANews, and others on the evening of November 7 said management had made clear that its self-mining of bitcoin would end on December 31, 2026, while its hosting services for third-party mining operations were also being phased out. Starting in 2027, the company plans to focus on high-density hosting, directing its power supply to AI and high-performance computing. Third-quarter revenue was about $233 million, including roughly $215 million from hosting and just $17.5 million from mining. Its power contracts with CoreWeave and AMD total about 1.12 gigawatts. Mining revenue has become little more than an afterthought; the main business is now powering computing capacity.
This is not just another running tally of “miners selling coins,” but a transformation of the entire business line: mining rigs are giving way to GPU racks. At around 11 p.m. on November 7 (UTC+8), spot BTC on Binance was trading around $75,900, while ETH, BNB, and SOL saw little movement. The shift from a hoarding-coins narrative to supplying power makes for a more compelling story than simply watching difficulty curves; the key question now is whether the power contracts can make the revenue story add up.
#BTC #挖矿 #AI This is not investment advice.
Even more striking is the timeline. Reports from Odaily, PANews, and others on the evening of November 7 said management had made clear that its self-mining of bitcoin would end on December 31, 2026, while its hosting services for third-party mining operations were also being phased out. Starting in 2027, the company plans to focus on high-density hosting, directing its power supply to AI and high-performance computing. Third-quarter revenue was about $233 million, including roughly $215 million from hosting and just $17.5 million from mining. Its power contracts with CoreWeave and AMD total about 1.12 gigawatts. Mining revenue has become little more than an afterthought; the main business is now powering computing capacity.
This is not just another running tally of “miners selling coins,” but a transformation of the entire business line: mining rigs are giving way to GPU racks. At around 11 p.m. on November 7 (UTC+8), spot BTC on Binance was trading around $75,900, while ETH, BNB, and SOL saw little movement. The shift from a hoarding-coins narrative to supplying power makes for a more compelling story than simply watching difficulty curves; the key question now is whether the power contracts can make the revenue story add up.
#BTC #挖矿 #AI This is not investment advice.
