#BTC #bnb #notifai Where did 15,000 BTC go after miners collectively cashed out?
Core Scientific was the first and most decisive to take action.
In January 2026, it sold about 1,900 bitcoins all at once, cashing out $175 million. The remaining plan is to liquidate everything in Q1. This mining company, which had previously gone through bankruptcy restructuring, is now transforming its Texas mining sites into high-density AI hosting facilities, aiming to allocate all of its 1.3GW total power capacity to AI.
MARA is even more ruthless. This company, known for "never selling coins," quietly changed its treasury policy in the 10-K annual report in March 2026—authorizing the sale of all 53,822 bitcoins. Based on the price at the time, that's nearly $4 billion in chips, overnight transforming from "strategic reserves" to "deployable funds." Shortly after, MARA signed a joint venture agreement with Starwood Capital to deliver 1GW of AI data center capacity.
The most surprising choice was Cango. Originally a car finance platform in China, it only entered the bitcoin mining scene at the end of 2024, yet by February 2026, it sold 4,451 bitcoins—60% of its reserves—cashing out $305 million for debt repayment and AI transformation. It also brought in former Zoom executive Jack Jin as the CTO of AI business, planning to install container-style GPU computing nodes in global mining sites. A car loan company transformed into a miner in two years, and then into an AI inference service provider—such a cross-industry speed can only be seen in the crypto space.
Bit Deer’s choice resembles a meticulously calculated chess move. In February, it cleared its own bitcoin holdings, and founder Wu Jihan's response was very frank: having zero holdings does not mean it will always be zero; liquidity is needed now to seize the acquisition window for power and land. Unlike other mining companies, Bit Deer is aggressively accelerating while clearing out—January's bitcoin production surged 430% year-on-year, with self-operated computing power reaching 63.2EH/s, surpassing MARA to become the largest publicly listed mining company by self-operated computing power. Emptying the coins on the balance sheet has led to a significant expansion in computing power and infrastructure. There is decisiveness akin to "cutting off one’s own wrist" and ambition like "ammunition loaded."
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