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I have started to follow Core Scientific's transition from Bitcoin to AI. In recent months, the company sold approximately 1,900 BTC for $175 million, and now they have less than 1,000 Bitcoin remaining. It's an interesting move because they are shifting focus from mining to data center operations.
Such strategic shifts are not commonly seen in the market. While major mining operators usually continue to accumulate Bitcoin, Core Scientific's move to AI data centers indicates where the sector is heading. Perhaps they believe that the long-term profitability of AI will be greater.
The BTC price is currently around $77,900. Normally, such large sales could create downward pressure on the price, but this time the market doesn't seem to have reacted strongly. I'm curious whether other mining companies will make similar moves or if Core Scientific will stand alone.