Bitcoin mining company Core Scientific plans to issue approximately $3.3 billion in secured senior bonds due 2031 through its subsidiary, primarily targeting institutional investors. The company stated that part of the proceeds will be used to repay a delayed draw term loan under a previous 364-day credit facility. The bonds will be guaranteed by multiple subsidiaries and secured by their assets through a senior mortgage. This financing is still subject to market conditions and has not been finalized. Core Scientific is accelerating its transition from Bitcoin mining to AI data center hosting business. (The Block)

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