Krass, Core Scientific has just secured a credit facility of up to one billion dollars with Morgan Stanley. That’s quite a substantial amount for a Bitcoin mining company. With a billion in hand, they can probably significantly expand their capacities and invest in new hardware.

The news somehow shows that traditional financial institutions like Morgan Stanley are taking Bitcoin mining more seriously than they did a few years ago. One billion isn’t chump change — it indicates real confidence in the business model. Whether this will ultimately be good for the entire mining industry remains to be seen.

I wonder how many other mining companies are now also knocking on the doors of big banks. Could become interesting for the whole sector.