Core Scientific plans $3.3 billion debt offering, with proceeds to help repay credit facility loans
The Block
Bitcoin miner Core Scientific is initiating a $3.3 billion debt offering to repay credit loans and fund data center expansion for AI services.Summary
Core Scientific has announced a $3.3 billion private debt offering through its subsidiary, Core Scientific Finance, to issue 2031 senior secured notes. The company intends to use the proceeds to repay outstanding loans from a $1 billion credit facility provided by JPMorgan Chase Bank and Morgan Stanley. This financial move supports the company's strategic pivot toward high-density colocation services for artificial intelligence customers, as it continues to develop data centers across Georgia, Texas, North Carolina, and Oklahoma.
(Source：The Block)