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Core Scientific Lines Up $500 Million Credit Facility Led by JPMorgan, Lifting Total Funding to $1 Billion

Bitcoin miner Core Scientific has secured a $500 million credit facility led by JPMorgan Chase, adding to a previously committed $500 million from Morgan Stanley and taking its total financing to $1 billion, The Block reported. The facility is priced at SOFR plus 250 basis points. Core Scientific said it will deploy the proceeds to buy real estate and equipment as it accelerates the conversion of its mining sites into high-density AI computing data centers. The company also plans to sell most of its bitcoin reserves by 2026 to support its strategic pivot.
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