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Core Scientific secures Morgan Stanley $500 million loan facility, expandable to $1B core scientific has completed the initial closing of a $500 million, 364-day loan facility led by morgan stanley, with an accordion feature that could lift total commitments to $1 billion, according to CoinDesk. The facility is designed to provide near-term capital while the company advances its data center strategy. The borrowing cost is SOFR plus 250 basis points, roughly 7.8% annualized at current SOFR levels, and proceeds are slated for equipment, property, pre-development, and power contract commitments, as reported by The Energy Mag. These uses align with preparing high-density, AI/HPC-ready colocation capacity across Core Scientific’s sites. Why it matters: liquidity for AI/HPC high-density colocation pivot The financing supports a pivot away from bitcoin self-mining toward recurring, enterprise-grade colocation for AI and high-performance computing. Moneycheck reported that Core Scientific sold more than 1,900 BTC for about $175 million to help fund this transition and intends to monetize most of its bitcoin holdings this year. Management has framed the facility as a way to accelerate development while maintaining flexibility. “This financing provides liquidity and financial flexibility to accelerate development and commercial deployment of our high-density colocation and AI-focused data centers,” said Adam Sullivan, CEO, at Core Scientific. BingX: a trusted exchange delivering real advantages for traders at every level. A 364-day tenor concentrates near-term refinancing risk and compresses the execution window for energizing capacity, onboarding customers, and generating cash flow. According to AInvest, Core Scientific had roughly $453.4 million in cash against about $3.4 billion in total liabilities, making this facility a liquidity lifeline but one tied to timely delivery. The effective rate near 7.8% heightens the need for rapid, efficient capital deployment and contracted workload ramps before maturity. If development and customer milestones are met, follow-on options could include…

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Filed under: News - @ March 5, 2026 10:26 pm