Once a hardcore Bitcoin mining company, they have been making frequent moves lately. Last year, the company made a major turnaround by selling off $201 million worth of BTC in one go.
Let's look at the specific numbers. In November last year, they sold 383 Bitcoins, cashing out $37 million, with BTC averaging around $96,560 at the time. Moving into December, things heated up — they completely liquidated 1,818 Bitcoins, cashing out $161.6 million at an average price of $88,870. Currently, they still hold 18,005 BTC, with a book value exceeding $1.6 billion.
What’s behind this move? Shifting from mining to AI business is something many mining companies have been experimenting with recently. Clearly, this company is reallocating assets, possibly optimistic about the prospects of AI, or looking to profit from the trend. From the November to December operations, the rhythm is quite evident — first a small reduction to test the waters, then a large-scale liquidation.
Interestingly, the company also announced that this will be the last regular disclosure of operational data. What does this mean? It could indicate a real shift in strategic focus, perhaps mining will no longer be the core business in the future.
What this reflects is actually a broader industry change. Mining profits are under pressure from coin prices, electricity costs, and other factors, prompting companies to seek new growth points. The integration of AI and crypto is becoming a new direction for many institutions to bet on again. In terms of BTC holdings, this company hasn't completely exited but is adjusting its portfolio — perhaps a more pragmatic strategy.