CORZ sells $175 million in BTC in January as AI pivot accelerates

CoinDesk

by James Van Straten

March 3, 2026

AI-Generated Deep Dive Summary

Core Scientific (CORZ), a leading Bitcoin mining and digital infrastructure company, sold approximately 1,900 Bitcoin in January for $175 million, marking a strategic shift toward AI-focused operations. The sale, at an average price of about $92,100 per BTC, reflects the company’s pivot away from Bitcoin mining as its primary focus. Despite holding under 1,000 Bitcoin post-sale, CORZ has signaled that it will remain “opportunistic” in future transactions, emphasizing a long-term strategy centered on AI and high-performance computing (HPC) infrastructure. The move aligns with broader industry trends, as companies like MARA Holdings and Riot Platforms have also begun to divest from Bitcoin mining to focus on AI and data center services. CORZ’s CEO, Adam Sullivan, described the mining segment as “essentially in runoff,” with operations being scaled back to meet minimum power requirements while legacy sites are repurposed for AI colocation facilities. This strategic repositioning is part of a $4 billion potential financing opportunity tied to its 590-megawatt CoreWeave contract. The company’s Q4 earnings call revealed that Bitcoin sales were used to fund AI infrastructure expansion rather than to rebuild mining capacity. However, the pivot has come with financial consequences: CORZ missed its fourth-quarter revenue expectations, reporting $79.8 million in revenue compared to a consensus estimate of $122.08 million. Despite this, the company ended 2025 with approximately $530 million in liquidity, highlighting its ability to adapt to market changes while maintaining a strong financial position. This shift underscores a broader industry transformation away from pure Bitcoin mining toward AI and data center infrastructure. While Core Scientific’s decision has implications for its short-term profitability, it also positions the

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Originally published on CoinDesk on 3/3/2026