Core Scientific Sells 816 BTC, Plans Complete Mining Exit by End of 2026

Core Scientific has disclosed in its Q3 2026 earnings report that it sold 816 BTC, reducing its holdings to just 32 BTC as of September 30, 2026. This sale represents a significant decline from the 2,537 BTC held at the end of 2025 and over 9,600 BTC at its peak in 2022.

The company, which emerged from Chapter 11 bankruptcy in late 2023, is pivoting towards AI and data center services, planning to cease Bitcoin mining entirely by December 31, 2026. The shift is evident in its revenue mix, with colocation services accounting for approximately 92% of total revenue in Q3 2026, totaling $215.4 million, compared to just $17.5 million from mining.

Core Scientific's mining fleet has shrunk by nearly 50% since the end of 2025, reflecting its strategic transition. The company is now focusing on high-density colocation services, with a goal of reaching 1,120 MW of contracted capacity by 2027.

As the company moves away from Bitcoin mining, its stock is increasingly tied to AI infrastructure demand, raising questions about its future performance amid a changing market landscape.