Morgan Stanley provides a $500 million loan to Bitcoin mining company Core Scientific

ZkProver · 2026-03-05T13:46:22+00:00

Core Scientific recently announced a $500 million financing provided by Morgan Stanley, aimed at shifting towards artificial intelligence workloads. The loan agreement has a term of 364 days, with an upsell clause, potentially reaching up to $1 billion. The funds will be used for real estate acquisitions, development costs, and energy contract procurement.

ZkProver

2026-03-05 13:46:22

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ChainCatcher news, Core Scientific announced on Thursday that it has secured $500 million in funding from Morgan Stanley, enabling the Bitcoin mining company to obtain new capital as it shifts its infrastructure toward artificial intelligence workloads.

According to a statement, the 364-day loan agreement includes an incremental clause allowing the company to increase its loan commitment by an additional $500 million, bringing the potential total to $1 billion. Core Scientific stated that the funds from this financing will be used for real estate acquisitions, pre-development costs, and the procurement of additional energy contracts.

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