Gemini

Core

<p>Core Scientific is moving to secure $3.3 billion in fresh debt as it scales data center capacity beyond bitcoin mining.</p>
<div id="cn-block-summary-block_91a5c8563e884a679fc9ad4165e75beb" class="cn-block-summary">
 <div class="cn-block-summary__nav tabs"><span>Summary</span>
 </div>
 <div class="cn-block-summary__content">
  <ul>
   <li>Core Scientific plans to raise $3.3 billion through asset-backed notes to fund data center expansion and refinance short-term debt.</li>
   <li>The company will use part of the proceeds to repay its 364-day credit facility while extending maturities across projects in multiple U.S. states.</li>
  </ul>
 </div>
</div>
<p>According to a Tuesday <a href="https://www.stocktitan.net/sec-filings/CORZ/8-k-core-scientific-inc-tx-reports-material-event-29635fba09ba.html" rel="noopener noreferrer nofollow">disclosure</a> from Core Scientific, the company plans to issue senior secured notes due in 2031, backed by its assets, giving lenders priority claims in case of default.&nbsp;</p>
<p>The structure allows the miner to raise capital without diluting existing shareholders, a route many firms in the sector have preferred as equity markets remain sensitive to crypto-linked volatility.</p>
<p>Proceeds from the offering are expected to support ongoing data center construction and refinance near-term liabilities. Part of the funds will go toward repaying borrowings under a 364-day credit facility, effectively pushing out repayment timelines while the company continues to expand infrastructure across key U.S. states, including Georgia, Texas, North Carolina, and Oklahoma.</p>
<p>You might also like: <a href="https://crypto.news/new-york-attorney-general-sues-coinbase-gemini-over-prediction-markets/" rel="noopener noreferrer nofollow"> New York Attorney General sues Coinbase, Gemini over prediction markets </a></p>
<p>Core Scientific’s latest move comes weeks after it secured a separate $1 billion credit <a href="https://crypto.news/core-scientific-secures-up-to-1b-financing-from-morgan-stanley/" rel="noopener noreferrer nofollow">agreement with Morgan Stanley</a> in March, adding another layer of long-term funding as it builds out capacity tied to high-performance computing and artificial intelligence workloads.</p>
<h2 class="wp-block-heading" id="miners-deepen-push-into-ai-infrastructure">Miners deepen push into AI infrastructure</h2>
<p>A growing number of crypto miners are leaning on debt and partnerships to reposition their businesses beyond traditional bitcoin mining, where margins have tightened following the latest halving cycle and rising operational costs.</p>
<p>Companies such as <a href="https://crypto.news/mara-partners-with-starwood-to-build-ai-data-centers-shares-rally-17/" rel="noopener noreferrer nofollow">MARA Holdings</a>, Riot Platforms, and Hut 8 have been <a href="https://crypto.news/hive-digital-technologies-hits-23-eh-s-expands-hpc-ai-data-centers-in-canada-and-sweden/" rel="noopener noreferrer nofollow">allocating capital</a> toward data centers and AI-linked services, seeking more stable revenue streams tied to compute demand. IREN has taken one of the more aggressive approaches, committing roughly $800 million in its most recent quarter toward expanding data center capacity and related infrastructure.</p>
<p>Partnership-led expansion is also picking up pace across the sector. Soluna Holdings said Tuesday it has expanded its agreement with Bitcoin mining infrastructure provider Blockware, adding 3.3 megawatts of capacity at its West Texas colocation facility.&nbsp;</p>
<p>The site primarily hosts third-party mining operations, and the latest deal marks Blockware’s fourth expansion with Soluna, pointing to steady demand for outsourced infrastructure as firms scale without taking on full development risk.</p>
<p>Read more: <a href="https://crypto.news/coinbase-ai-agents-get-their-own-app-store/" rel="noopener noreferrer nofollow"> Coinbase Launches Agentic.market, a Discovery Layer Where AI Agents Buy and Sell Services With Stablecoins </a></p>

Core Scientific seeks $3.3B financing to fund U.S. data center expansion

Table of Contents

crypto.news

Other articles published on Apr 22, 2026

Join our free newsletter for daily crypto updates!