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Morgan Stanley Provides $500 Million Loan to Bitcoin Miner Core Scientific
Core Scientific announced on Thursday that it has secured $500 million in financing from Morgan Stanley, enabling the Bitcoin mining company to access new funds as it shifts its infrastructure toward artificial intelligence workloads.
According to a statement, the 364-day loan agreement includes an incremental term, allowing the company to increase its loan commitment by an additional $500 million, potentially bringing the total to $1 billion. Core Scientific stated that it plans to use the financing for real estate acquisitions, pre-development costs, and the procurement of additional energy contracts.