From MARA to Core Scientific: What the Latest Sell-Off Says About the Future of DATs

Core Scientific, a Bitcoin mining company, announced this week its plans to sell nearly all of its Bitcoin holdings to fund its shift towards AI and high-performance computing. The move reflected a broader trend in the Bitcoin mining industry. However, it also raised questions over the purpose of sustaining Bitcoin treasuries, especially in light of a broader market downturn. Bitcoin Miner Reduces Holdings for Growth Core Scientific unveiled on Monday its plans to use the proceeds from its Bitcoin sales to finance its growing data center buildout. According to its most recent 10-K filing, the company sold 1,924 Bitcoin between December and February for aggregate proceeds of nearly $176 million. According to Bitcoin Treasuries, Core Scientific currently holds 613 Bitcoin, worth nearly $42 million. The company also announced that it will transition its Pecos, Texas, facility from Bitcoin mining to colocation services, a move that aligns with rising demand for artificial intelligence (AI) infrastructure. Core Scientific sells $175,000,000 in $BTC as AI pivot accelerates.MARA opens door to selling stockpiled Bitcoin in new policy shift."Miner Capitulation."— Ted (@TedPillows) March 3, 2026 The change reflects a broader trend among Bitcoin miners seeking more lucrative business models. It also coincides with weaker Bitcoin prices and rising energy costs, which have burdened miners’ operations. Last December, BeInCrypto reported that Bitcoin mining profitability hit record lows by the end of 2025, with 70% of the top 10 Bitcoin mining companies already generating revenue from infrastructure services. Core Scientific became the latest miner to do so, joining CleanSpark, Riot Platforms, and IREN, among others. However, its latest move not only reflects general restructuring but also indicates a shift away from Bitcoin accumulation. Bitcoin’s Stagnation Raises Questions for DATs Core Scientific’s Bitcoin holdings, prior to its recent sell-off, were not among the largest i...