Core Scientific secures up to $1 billion loan from Morgan Stanley
Core Scientific, one of the largest publicly traded Bitcoin mining companies in the United States, has secured a loan facility of up to $1 billion from investment bank Morgan Stanley. The financing is expected to support the expansion of the company’s data center infrastructure.
The companies initially closed a $500 million loan facility with a 364-day term. The agreement includes an accordion feature, allowing the total financing to expand by an additional $500 million if standard conditions are met, according to Business Wire.
The loan will carry an interest rate of SOFR + 2.5%, which is typical for large infrastructure financing arrangements.
Funds will support data center expansion
According to Core Scientific CEO Adam Sullivan, the additional capital will help accelerate projects that are nearing operational readiness and allow the company to better meet growing customer demand.Core Scientific plans to use the funds for general corporate purposes tied to data center development. This includes purchasing equipment, covering early-stage construction costs for new facilities, acquiring land, and securing additional power supply agreements needed to operate future data centers.
Core Scientific shifts focus toward AI infrastructure
The financing announcement comes shortly after the company released its quarterly earnings report, in which Core Scientific disclosed that it sold $175 million worth of Bitcoin. The company is gradually shifting its focus from crypto mining to infrastructure for artificial intelligence and high-performance computing. This strategy is becoming increasingly common among major mining companies seeking to leverage their energy capacity and data center infrastructure for new markets.Core Scientific is not the only company reducing its Bitcoin reserves. Riot Platforms sold thousands of BTC in 2025, while Bitdeer announced plans to exit corporate Bitcoin treasury holdings to expand its AI business.
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