Morgan Stanley has provided a $500 million, 364-day credit facility to Core Scientific, with a strategic option to increase the total commitment to $1 billion. This financing is specifically earmarked to support infrastructure for high-density computing workloads, including artificial intelligence (AI) and high-performance computing (HPC). Core Scientific plans to accelerate its strategic pivot by converting all 10 of its existing Bitcoin mining sites into AI-focused data centers. To further fund this expansion into AI compute provision, the company intends to liquidate its entire Bitcoin portfolio in 2026. This move highlights a significant shift in the crypto mining sector toward more diversified and high-demand computing services. Analysts view this transition as a bold step to leverage institutional backing for long-term growth in the AI infrastructure market.
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