Core Scientific sells 816 BTC, holds just 32 BTC as AI pivot accelerates

What happened

Core Scientific sold 816 BTC in the third quarter of 2026, leaving 32 BTC on its balance sheet at September 30. The company said it plans to stop Bitcoin mining entirely by December 31, 2026, as colocation services supplied most of its reported quarterly revenue.

Confirmed

Global impact / market context

The shift away from mining reduces the company’s Bitcoin holdings and mining activity while making colocation its main reported revenue source. That changes what may drive future revenue and costs: performance will depend more on its ability to provide and bill for colocation capacity than on mining.

Analyst inference

In Q3 2026, Core Scientific reported $232.9 million in total revenue, up 187% year over year; colocation contributed $215.4 million, while mining brought in about $17.5 million. This contrast shows the company’s reported business mix already centers on colocation rather than mining.

Confirmed

What to watch

1. Watch for confirmation that Bitcoin mining stops by December 31, 2026, as management said it plans; continued mining beyond that date would delay the stated transition. Proposed
2. Future reports can show whether colocation capacity under billing, reported at 485 MW, grows and whether colocation revenue continues to outweigh the shrinking mining contribution. Analyst inference
3. The company’s reported Bitcoin holdings were 32 BTC at September 30 after selling 816 BTC in Q3; later disclosures would show whether that balance changes. Analyst inference

Affected assets

• BTC — Bitcoin

Evidence

• cryptobriefing.com