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

Core Scientific announced plans to sell nearly all of its Bitcoin holdings to fund a shift toward AI and high-performance computing. The company sold 1,924 Bitcoin between December and February for aggregate proceeds of nearly $176 million, and it currently holds 613 Bitcoin, worth nearly $42 million.

It also said it will transition its Pecos, Texas, facility from Bitcoin mining to colocation services to meet rising demand for AI infrastructure. The move reflects a broader industry pivot as miners seek more lucrative business models. Bitcoin mining profitability hit record lows by the end of 2025, and 70% of the top 10 Bitcoin mining companies were already generating revenue from infrastructure services, prompting firms such as CleanSpark, Riot Platforms and IREN to diversify their operations.

MARA’s recent revision to its treasury policy, which allows the sale of Bitcoin held directly on its balance sheet, marks a departure from its prior “full HODL” stance.

United States, Pecos, Texas

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