Core Scientific has entered into a financing agreement worth up to $1 billion with Morgan Stanley to expand its digital infrastructure business. The company completed the closing of its original $500 million 364-day financing facility. This includes an option to increase the total commitment to $1 billion.
The loan will carry an interest rate of 2.5% above the secured overnight financing rate (SOFR), according to Thursday’s announcement. The company said the additional funding will increase liquidity and support the development of new data centers, including costs related to equipment, land acquisition and energy procurement.
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The deal comes at a pivotal moment for Core Scientific as it moves away from Bitcoin mining to AI-centric data centers and high-density colocation, giving the company, which only recently stabilized its balance sheet, short-term firepower to execute on its plans.
Core Scientific continues its transition from crypto mining to high-density colocation services, converting existing facilities to handle artificial intelligence workloads. CEO Adam Sullivan said the funding will “enhance financial flexibility” and help the company move forward with project deployment more quickly.
Core Scientific lands $500 million in financing at about 7.8% as AI data center financing boom continues $CORZ https://t.co/Gjg8RUxyRd
— TheEnergyMag (@TheEnergyMag) March 5, 2026
This is also part of a broader shift across the Bitcoin mining sector, with peers increasingly converting Bitcoin to cash to fund diversification into AI infrastructure and reduce balance sheet risk.
Miners offload Bitcoin government bonds to aid AI
One notable example is Bitdeer emptying its entire treasury to build liquidity for AI and high-performance computing projects.
In an update, the Nasdaq-listed miner reported zero Bitcoin holdings as of February 20 and said it had sold all 189.8 Bitcoin. $BTC It was mined along with reserve coins that week, freeing up about $12 million at current prices, resulting in a net increase. $BTC Period addition is minus 943.1 $BTC.
Furthermore, the largest public Bitcoin miner listed on Nasdaq is $BTC The company, which owns MARA Holdings, recently updated its 2026 financial policy to allow for the sale of reserves accumulated after periods of increased volatility.
The report explained that MARA aims to use selective sales of Bitcoin to manage risk and potentially fund expansion into areas such as AI and high-performance computing, and to align with peers that increasingly prioritize cash flow and infrastructure growth over large asset holdings. $BTC Ministry of Finance.
Core Scientific operates data center facilities in multiple states in the United States, including Texas, Georgia, and North Carolina.