Core Scientific Adds 301 BTC to Balance Sheet in Sudden Reversal
Core Scientific, a company that transitioned from a pure-play Bitcoin miner to a hybrid operation providing AI data center infrastructure, has increased its Bitcoin holdings by 301 BTC to 848 BTC. This recent purchase marks a reversal of the company's previous strategy, which involved selling nearly all of its remaining coins in January this year for $175 million.
The sale, which averaged about $92,100 per coin, was intended to bankroll Core Scientific's pivot toward AI and high-performance computing data centers. However, the company has now added 301 BTC to its balance sheet, representing a significant jump from its previous holding of 547 BTC at the end of Q1.
Core Scientific's broader strategy remains unchanged, with the company continuing to transform itself into a hybrid operation that also provides high-density data center infrastructure for AI workloads. The pivot has attracted serious institutional backing, including a financing agreement worth up to $1 billion from Morgan Stanley designed to help Core Scientific scale its contracted power capacity.