Core Scientific secured a $500 million financing facility granted by Morgan Stanley through a 364-day loan arrangement, with an expansion option that could raise the total committed amount to $1 billion. The credit includes an accordion clause that allows commitments to be increased by an additional $500 million, at an interest rate of SOFR plus 250 basis points.
The company will allocate the funds toward the acquisition of real estate, pre-development costs, additional energy contracts and the equipment needed to convert its infrastructure to high-density artificial intelligence workloads, at facilities located in Texas, Georgia and North Carolina, among other states.
Core Scientific is progressively abandoning Bitcoin mining. In its annual report filed this week, the company anticipated that it will monetize “substantially all” of its BTC reserves during 2026 to fund the transition.
At the close of 2025, Core Scientific held approximately 2,537 BTC valued at $222 million, but by January it had already sold more than 1,900 BTC for approximately $175 million, leaving a balance of around 630 BTC. CEO Adam Sullivan noted that mining is “essentially in progressive liquidation,” with the remaining operations serving only to meet minimum energy commitments at legacy sites transitioning toward AI-oriented deployment.
Disclaimer:Â Crypto Economy Flash News are based on verified public and official sources. Their purpose is to provide fast, factual updates about relevant events in the crypto and blockchain ecosystem.
This information does not constitute financial advice or investment recommendation. Readers are encouraged to verify all details through official project channels before making any related decisions
