Core Scientific has secured a $500 million financing facility from Morgan Stanley. The credit line arrives as the company accelerates its transition from Bitcoin mining toward artificial intelligence infrastructure.
The 364-day facility includes an accordion feature that could expand total borrowing capacity to $1 billion. Borrowings carry an interest rate of the Secured Overnight Financing Rate (SOFR) plus 250 basis points, according to the company. Core Scientific plans to use the capital for land acquisition, energy contracts, and equipment needed to convert existing data centers into compute infrastructure for AI workloads.
The company operates facilities across Texas, Georgia, and North Carolina. Those sites historically supported large-scale mining operations for Bitcoin but are now being prepared for high-density colocation services targeting AI customers.
Why Are Bitcoin Miners Pivoting Toward AI Infrastructure?
Several publicly listed miners have begun shifting strategy as demand for data-center capacity rises across the AI sector. Power-intensive crypto mining operations already control large energy contracts and physical infrastructure, giving them a potential advantage in supplying compute environments for AI workloads.
Core Scientific’s balance sheet reflects that shift. The company held 2,537 BTC as of Dec. 31, 2025, with a fair value of roughly $222 million. But it sold more than 1,900 BTC in January for about $175 million, leaving approximately 630 BTC remaining as it reallocates capital toward infrastructure expansion.
Motley Fool Transcribing
“This strengthens our liquidity and enhances our financial flexibility as we execute our development and go-to-market strategy,” said Adam Sullivan.
He added that the financing allows the company to accelerate development timelines and position itself as an infrastructure provider for large compute customers.
The shift also signals a structural change for the company’s original business. Sullivan told investors that Bitcoin mining is now “essentially in runoff,” with operations continuing mainly to satisfy minimum power commitments while sites transition to AI-focused colocation.
Institutional lenders appear increasingly willing to finance that pivot. Morgan Stanley’s involvement suggests traditional capital markets are beginning to view repurposed mining infrastructure as part of the broader AI compute supply chain.
The next catalyst will be how quickly Core Scientific converts its remaining mining capacity into operational AI data-center contracts as demand for high-density compute infrastructure continues to expand.
