Core Scientific sold $208 million of bitcoin in Q1 as AI pivot continues
The firm's AI pivot relies on a 590 MW contract expansion with CoreWeave, projected for $10.2 billion in revenue over 12 years.
The sale of $208 million in bitcoin may lead to short-term bearish pressure on BTC prices as market participants react to the firm's liquidity strategy. However, the long-term potential from the AI pivot could stabilize and eventually support prices.
The firm's AI pivot relies on a 590 MW contract expansion with CoreWeave, projected for $10.2 billion in revenue over 12 years.
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