MS backs $500M Core Scientific loan
Morgan Stanley directly backed a $500 million loan facility for Core Scientific (with an option to scale to $1 billion), marking one of the largest single‑institution bets on digital compute infrastructure reported.
Borrowings under the Facility bear interest at SOFR plus 250 basis points and mature in 364 days. (investors.corescientific.com) The Facility includes an accordion feature that can increase total commitments under customary terms and conditions. (investors.corescientific.com) Core Scientific said proceeds may be used for equipment purchases, pre‑development costs, real property acquisition and agreements to procure additional energy for its data center builds. (investors.corescientific.com) The company disclosed plans to monetize “substantially all” of its bitcoin reserves in 2026 and reported holding 2,537 BTC with a carrying fair value of $222 million as of Dec. 31, 2025, after selling over 1,900 BTC in January for roughly $175 million. (theblock.co) Core Scientific emerged from Chapter 11 on Jan. 23, 2024 after a reorganization that converted about $400 million of debt into equity. (businesswire.com) The company lists operating facilities in Alabama (1), Georgia (2), Kentucky (1), North Carolina (1), North Dakota (1), Oklahoma (1) and Texas (3) as it repurposes sites for AI and high‑density colocation. (investors.corescientific.com) CEO Adam Sullivan said the financing “strengthens our liquidity” and will enable the company to “expedite project ready‑for‑service timelines” while converting legacy mining sites to support AI workloads. (investors.corescientific.com)
