A major crypto mining infrastructure provider, Core Scientific, has obtained a large financing package that could reach $1 billion, aimed at expanding its data center capacity and supporting its push into artificial intelligence infrastructure.
The funding comes through a credit facility arranged with Morgan Stanley. According to the announcement, the agreement initially provides $500 million in available credit, with the option to increase the total amount by another $500 million in the future.
The financing arrangement is structured as a one-year facility. Borrowing costs are tied to the Secured Overnight Financing Rate (SOFR)—which stood at about 3.7% in March 2026—plus an additional 250 basis points.
Altogether, the agreement gives the company access to as much as $1 billion in additional liquidity. Management says the capital will primarily support the expansion of data center operations, although it may also be used for broader corporate purposes.
Chief executive Adam Sullivan said the additional financing will allow the company to move more quickly on new infrastructure projects.
According to Sullivan, the expanded credit capacity enables the firm to deploy capital faster and bring facilities online sooner, strengthening its position as a large-scale infrastructure provider for customers.
The financing initiative also fits into the company’s broader strategy of deepening its presence in AI computing. Earlier, the firm indicated it could even sell part or all of its Bitcoin reserves to help fund that transition toward artificial intelligence infrastructure.
However, investors have reacted cautiously to the strategic shift. The company’s stock has remained under pressure, with a decline of more than 10% over the past five days.
Despite that reaction, many in the broader crypto community see the growing involvement of large financial institutions and major corporations in crypto mining and AI infrastructure as a positive trend. For the banking sector, the partnership also represents an opportunity to strengthen its foothold in a rapidly expanding technology segment.
In parallel, the bank involved in the deal has also been moving deeper into the digital asset market. Earlier reports indicated it had submitted applications related to new exchange-traded funds linked to cryptocurrency assets.
