Core Scientific Adds More Bitcoin to Balance Sheet in Q2 Despite Selling Strategy

Nasdaq-listed miner Core Scientific is rebuilding its Bitcoin treasury after seeing its balance sheet shrink at the start of this year.

In a regulatory filing Tuesday, the company said it held 848 Bitcoins — worth more than $54 million at today’s prices — after ending the first quarter with 547 Bitcoins.

Core Scientific closed 2025 with 2,537 Bitcoins, but it began selling coins aggressively to help finance its transition into the AI and high-powered computing industry. The company has since started stacking Bitcoin again, using coins generated from mining to support a stronger balance sheet. It added 301 coins in the second quarter alone.

The move highlights a balancing act for miners that are adapting to a business environment where Bitcoin production remains capital-intensive while new AI-related uses for data centers are drawing more attention. For Core Scientific, holding more Bitcoin alongside its pivot suggests the company is still using mined coins as a financing tool even as it builds out a broader infrastructure business.

Selling Bitcoin can reduce reliance on equity issuance or additional borrowing, particularly in a higher-interest-rate environment. It can also increase a company’s cash on hand.

Core Scientific shares (CORZ) were trading about 2% lower Tuesday afternoon in New York.

The company, which operates data centers across Alabama, Georgia, Kentucky, North Carolina, North Dakota, Oklahoma, and Texas, also said second-quarter revenue rose sharply to $164.2 million from $78.6 million in Q2 2025. Gross profit increased to $70 million from $5 million in the same period a year earlier.

Core Scientific is among a group of publicly listed miners that have begun directing more resources toward high-powered computing infrastructure.

On Tuesday, the miner signed a deal with chipmaker AMD for 2.5 gigawatts of data center capacity. Under the agreement, AMD will gain access to more than 500 megawatts of Core Scientific’s AI-ready data center capacity.

Several Bitcoin miners have moved into the sector as mining the largest digital asset by market capitalization becomes more difficult and demand for AI compute rises.

Rather than exiting Bitcoin mining entirely, some miners have rebranded themselves as “compute” or “digital infrastructure” companies, shifting between producing digital coins and providing AI compute depending on which business is more profitable.

Expanding into AI data centers is not always simple for miners, since high-performance computing requires more expertise in heating, ventilation, and air conditioning systems than Bitcoin mining does.

This post first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.