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Morgan Stanley provides a $500 million loan to Core Scientific, a mining company listed on the Bitcoin
Svmuu News: Core Scientific announced Thursday that it has secured $500 million in financing from Morgan Stanley, providing the Bitcoin mining company with new capital as it shifts its infrastructure toward artificial intelligence workloads.According to a statement, the 364-day loan agreement includes a drawdown option allowing the company to increase its loan commitment by an additional $500 million, bringing the potential total to $1 billion. Core Scientific said it plans to use the proceeds to acquire real estate, cover pre-development costs, and secure additional power contracts.(The Block)
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