Core Scientific Lands $500M Morgan Stanley Credit Line, Expandable to $1B

Core Scientific has closed a $500 million loan facility with Morgan Stanley, with the option to expand total commitments to $1 billion. The 364-day facility carries interest at the Secured Overnight Financing Rate (SOFR) plus 2.5% and includes an accordion feature that can add another $500 million.

The financing may be used for general corporate purposes tied to building and expanding data center assets, including equipment purchases, real estate acquisition and securing additional power agreements. The company operates large-scale data centers in Texas, Georgia and North Carolina, hosting Bitcoin (BTC) mining equipment alongside other high-density computing workloads.

Most of its revenue still comes from Bitcoin mining, but Core Scientific is converting most of its data center footprint to support AI-related and other high-performance computing workloads.

United States, Texas, Georgia, North Carolina

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