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

GateNews

2026-03-05 13:43:41

BTC-2.35%

Odaily Planet Daily reports that Core Scientific announced on Thursday that it has secured $500 million in funding from Morgan Stanley, enabling the Bitcoin mining company to access 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, potentially bringing the total to $1 billion. Core Scientific stated that the funds will be used for real estate acquisitions, pre-development costs, and the procurement of additional energy contracts. (The Block)

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