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CryptoMediumUpdated•Originally published 5 March 2026•Updated 6 March 2026•

1 min read

Core Scientific to Pivot to AI with $500M Morgan Stanley Credit Facility

A grand hall with golden gates featuring Bitcoin and Ethereum logos, flanked by Charles Schwab screens and computer workstations.

Key Facts

1Morgan Stanley provided a $500 million loan facility to Bitcoin miner Core Scientific.

3 months ago

Version History

Version 13 months ago

What changed: The update clarifies that the facility is driving a strategic pivot from Bitcoin mining to AI and HPC data center infrastructure, involving the conversion of all 10 company sites and a planned liquidation of BTC holdings by 2026.

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.