Core Scientific Boosts Bitcoin Treasury to 848 BTC

Core Scientific has increased its Bitcoin position by 301 BTC, lifting total holdings to 848 BTC. The move stands out after an aggressive liquidation earlier this year. The company ended 2025 with 2,537 BTC, then reduced that balance to 547 BTC by March 31, 2026. In January alone, it sold about 1,900 BTC for $175 million, implying an average price of roughly $92,100 per coin. Management said the sales were aimed at converting crypto into cash to fund a strategic shift into AI and high-performance computing (HPC) data centers. The latest purchase marks a notable rebound from the Q1 level of 547 BTC, despite prior disclosure in its 10-K that it expected to dispose of "nearly all" remaining Bitcoin in 2026. Core Scientific's balance sheet remains sizeable. As of Q1 2026, it reported $1.01 billion in cash equivalents, while its digital assets were valued at about $37.3 million at that time. The company's core narrative is still its AI pivot: transitioning from a pure-play Bitcoin miner to a hybrid operator providing high-density data center infrastructure for AI workloads. Institutional support has followed. Morgan Stanley has extended a financing agreement of up to $1 billion to help expand Core Scientific's contracted power capacity. For investors, the signal is mixed. Buying 301 BTC alongside $1.01 billion in cash is not a bet-the-farm wager on Bitcoin, but execution risk remains central. Operating world-class AI data centers demands different capabilities than running mining operations, and competition includes established players such as Equinix and Digital Realty. Core Scientific's existing power infrastructure and cooling capacity may translate well to AI workloads. Markets will be watching whether the company continues to rebuild its Bitcoin position in coming quarters. A further rise from 848 BTC would underscore a clearer break from the liquidation approach described in its 2025 annual filing.