Morgan Stanley Provides $500 Million Loan to Bitcoin Miner Core Scientific

Odaily News Core Scientific announced on Thursday that it has secured $500 million in financing from Morgan Stanley. This funding will enable the Bitcoin mining company to access new capital as it shifts its infrastructure towards artificial intelligence workloads. According to a statement, the 364-day loan agreement includes an accordion feature, allowing the company to increase the loan commitment by an additional $500 million, bringing the potential total to $1 billion. Core Scientific stated that it plans to use the financing for the acquisition of real estate, pre-development costs, and the procurement of additional energy contracts. (The Block)