Core Scientific has obtained a $500 million loan facility from Morgan Stanley, providing the company with fresh capital as it transitions its infrastructure toward artificial intelligence computing services. The agreement is structured as a 364 day financing facility and includes an accordion option that could expand the total borrowing capacity to $1 billion if needed. The borrowing rate is set at SOFR plus 250 basis points, according to company disclosures.
Funding Expansion of Data Centers and Energy Capacity
The financing is expected to support several development initiatives, including the purchase of real estate, early-stage project development costs, and securing additional energy contracts. Core Scientific also plans to invest in new equipment required to upgrade its facilities so they can handle compute-intensive workloads. The company operates large infrastructure sites across Texas, Georgia, and North Carolina, which are gradually being adapted for high-density computing services.
Bitcoin Mining Operations Shift Toward AI Colocation
Core Scientific is increasingly moving away from traditional bitcoin mining and focusing on AI-focused colocation services. To help fund this transition, the company indicated it may monetize most of its bitcoin holdings during 2026. As of the end of 2025, Core Scientific held 2,537 BTC valued at about $222 million, though more than 1,900 BTC were sold earlier this year as part of the strategic shift.
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