Bitcoin mining company Core Scientific plans to issue approximately $3.3 billion in senior secured bonds due 2031, primarily targeting institutional investors. The company stated that part of the funds raised will be used to repay a delayed draw term loan under a previous 364-day credit facility. The bonds will be secured by multiple subsidiaries and will be granted a first priority lien on their assets. 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 services. (The Block)