Core Scientific has secured a financing agreement with Morgan Stanley worth up to $1 billion to expand its digital infrastructure operations. The company completed the initial $500 million closing of a 364-day loan facility, which includes an option to increase total commitments to $1 billion.

$500M Facility with Expansion Option

According to Thursday announcement, the loan carries an interest rate of the Secured Overnight Financing Rate (SOFR) plus 2.5%. The company said the additional funds will boost liquidity and support the development of new data centers, including costs tied to equipment, land acquisition, and energy procurement.

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This deal lands at a pivotal moment for Core Scientific as it shifts from Bitcoin mining toward AI-focused data centers and high-density colocation, and it gives the company short-term firepower to execute that plan after only recently stabilizing its balance sheet.

Core Scientific continues to shift from cryptocurrency mining toward high-density colocation services, converting existing facilities to handle artificial intelligence workloads. CEO Adam Sullivan said the financing “enhances our financial flexibility” and helps the firm move faster on project deployments.

Core Scientific Lands $500M Loan at ~7.8% as AI Data Center Financing Boom Continues $CORZ https://t.co/Gjg8RUxyRd

— TheEnergyMag (@TheEnergyMag) March 5, 2026

It also sits within a broader shift across the Bitcoin mining sector, where peers increasingly convert Bitcoin into cash to fund diversification into AI infrastructure and reduce balance sheet risk.

Miners Offload Bitcoin Treasuries to Back AI

One prominent example is Bitdeer emptied its entire treasury to build liquidity for AI and high-performance computing projects.

In its update, the Nasdaq-listed miner reported zero Bitcoin holdings as of 20 February, saying it had sold all 189.8 $BTC mined that week alongside reserve coins, a move that freed up roughly $12 million at current prices and pushed net $BTC added for the period to minus 943.1 $BTC.

Additionally, largest Nasdaq-listed public Bitcoin miner by $BTC held MARA Holdings, recently updated its 2026 treasury policy to allow sales of accumulated reserves after a period of heightened volatility.

The report explained that MARA aims to use selective Bitcoin sales to manage risk and potentially fund expansion into areas such as AI and high-performance computing, aligning it with peers that increasingly prioritize cash flow and infrastructure growth over holding large $BTC treasuries.

Core Scientific operates data center facilities across multiple U.S. states, including Texas, Georgia, and North Carolina.