Bitmain sold almost half of its stake in Core Scientific after the miner’s shares rose by 219.4% in 2024. The stake, purchased for $59 million, could have been worth up to $200 million at its peak!
The reasons for the share price growth are linked to Core Scientific’s transition into artificial intelligence and hosting services, as well as its successful recovery after bankruptcy
After the sale, Bitmain remains a significant shareholder, but its stake is now only 1.9%