"Core Scientific is preparing a $3.3 billion debt offering as it accelerates its transition from bitcoin mining to high-performance computing infrastructure, indicating a significant strategic pivot."
"The Nasdaq-listed company plans to issue senior secured notes due 2031, with proceeds aimed at strengthening the balance sheet and repaying outstanding borrowings under a short-term credit facility."
"The notes will be backed by a broad pool of assets, including first-priority claims on substantially all assets of the issuing entity and its key subsidiaries."
"Core Scientific is committed to supporting the buildout of data center projects tied to its operational facilities, ensuring their completion with additional funding if necessary."
Core Scientific is initiating a $3.3 billion debt offering to shift from bitcoin mining to AI data centers. The company plans to issue senior secured notes due in 2031, targeting institutional investors. Proceeds will strengthen the balance sheet, fund a debt service reserve, and repay short-term borrowings. The notes will be secured by a wide range of assets, including first-priority claims on key subsidiaries. Core Scientific is also committed to supporting data center projects in various states, ensuring their completion with additional funding if necessary.
Read at news.bitcoin.com
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