Core Scientific secures $1B loan for AI data centers
6.7 Investments Core Scientific secured a $500M loan from Morgan Stanley, expandable to $1B, to fund its shift from bitcoin mining to AI and high-density data centers across several states.
Core Scientific has secured a $500 million loan facility from Morgan Stanley, with the option to increase the total commitment to $1 billion. The 364-day facility, priced at SOFR plus 250 basis points, will fund the expansion and conversion of Core Scientific’s data center infrastructure in Texas, Georgia, and North Carolina. The capital will be used for real estate acquisitions, pre-development costs, equipment purchases, and additional energy procurement. This funding enables Core Scientific to transition from bitcoin mining to high-density computing workloads, including artificial intelligence and high-performance computing. To support this shift, Core Scientific has already sold a significant portion of its bitcoin holdings and plans to monetize nearly all remaining reserves by 2026. The financing strengthens the company’s liquidity and accelerates its strategy to become a leading provider of scalable infrastructure for compute-intensive applications.
