Core Scientific secures $500M financing from JPMorgan to enhance data center expansion
Core Scientific secured $500 million from JPMorgan, part of a $1 billion financing package, to expand its data center infrastructure for AI and Bitcoin mining.Summary
Core Scientific, a data center operator for Bitcoin mining and AI, has secured $1 billion in strategic financing, including $500 million from JPMorgan. CEO Adam Sullivan stated the funding will accelerate infrastructure delivery and meet strong demand. The financing will support investments in equipment, property, and energy for high-density colocation data centers, carrying interest at SOFR plus 2.5%. Emerging from Chapter 11 bankruptcy in January 2024 after restructuring $400 million in debt, Core Scientific shifted its focus from Bitcoin mining to high-density colocation services for AI and machine learning. Q4 2025 saw a 268% year-over-year jump in colocation revenue to over $31 million, while overall revenue declined 16% to $80 million due to the reduction of self-mining operations. The company reported a net income of $216 million, boosted by a non-cash fair value gain, and ended the quarter with $533 million in liquidity.
(Source：Crypto Briefing)